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Which of the following is correct about a monopsonistic market? Resources are efficiently allocated. There is one supplier and many buyers. The monopsony has the
Which of the following is correct about a monopsonistic market?
Resources are efficiently allocated. There is one supplier and many buyers. The monopsony has the same quantity transacted as in a perfectly competitive market. The supply curve is horizontal and is equal to the average cost of labor. Purchase of an additional item increases the price of the item and of the existing items being purchased.
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