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Which of the following is correct about a monopsonistic factor market? Resources are efficiently allocated. There is one seller and many buyers. The monopsony has
Which of the following is correct about a monopsonistic factor market?
Resources are efficiently allocated.
There is one seller and many buyers.
The monopsony has the same quantity transacted as in a perfectly competitive input market.
The supply curve is upward sloping and below the marginal factor cost curve.
Purchase of an additional item decreases the price of the item and of the existing items being purchased.
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