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This was the information given. A non-discriminating monopsonist faces a labor supply curve with a constant elasticity. Suppose that the marginal cost of hiring an

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A non-discriminating monopsonist faces a labor supply curve with a constant elasticity. Suppose that the marginal cost of hiring an additional worker is always equal to 100 times the wage. That is MCL = 10011! Determine if the following statement is either True or False. A one percent increase in the wage leads to a 1/99 percent increase in labor supply; that is the elasticity of labor supply equals 1/99

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