Suppose a specific labour market is considered to be a monopsony. Who holds the market power and can affect wages? Question 13 options:

a. The buyer and seller of labour have equal power in the market as they can both affect wages.

b. Neither the buyer nor the seller of labour has market power because the wage rate is determined by the market forces of demand and supply.

c. The buyer of labour generally has market power and can affect wages.

d. The seller of labour generally has market power and can affect wages.