Why might wage and employment outcomes yield competitive results when a bilateral monopoly exists? The monopoly on one side of the market could in effect cancel out the monopoly on the other side. The bargaining power of the monopsonistic employer would likely be greater than that of a labor union. Antitrust legislation would prohibit any collusion on wage rates or hiring levels. The bargaining strategy of a labor union would likely be more effective than that of a monopsonistic employer