W. W. M MRP for Firm ~ Labor X O QM QE Quantity of Labor The monopsonist quantity supplied is lower than the competitive market quantity supplied. It falls by QE - QM- The monopsonist quantity supplied is higher than the competitive market quantity supplied. It rises by QE - QM. The monopsonist quantity supplied is higher than the competitive market quantity supplied. It rises by QM. The monopsonist quantity supplied is lower than the competitive market quantity supplied. It falls by QM.5 6 7 8 Question 14 O Mark this questio Which of the following is a reason why firms in a perfectly competitive market have no influence over price? O Barriers exist to enter the market. O There are many sellers that produce similar, but not identical, products. O All firms in the market sell identical products. O Buyers and sellers lack perfect information about the product and pricing. SAVE & CONTINUE Report an issue with this question