Which of the following is correct about a monopsonistic factor market? O 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. O The supply curve is upward sloping and below the marginal factor cost curve. O Purchase of an additional item decreases the price of the item and of the existing items being purchased.Farm2U produces its product in a perfectly competitive market that is producing where MR = MC and price is higher than average variable costs. Farm2U is earning economic losses. What should the Farm2U do? O Increase output to reduce economic losses O Shut down immediately O Reduce output below minimum efficient scale O Decrease price to increase revenue O Leave the market in the long run