Suppose a specific labour market is considered to be a monopsony. Who holds the market power and can affect wages? The buyer and seller of labour have equal power in the market as they can both affect wages. Neither the buyer nor the seller of labour has market power because the wage rate is determined by the market O forces of demand and supply. The buyer of labour generally has market power and can affect wages. O The seller of labour generally has market power and can affect wages.

Suppose a specific labour market is considered to be a monopsony. Who holds the market power and can affect wages? The buyer and seller of labour have equal power in the market as they can both affect wages. Neither the buyer nor the seller of labour has market power because the wage rate is determined by the market O forces of demand and supply. The buyer of labour generally has market power and can affect wages. O The seller of labour generally has market power and can affect wages.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Labor Markets

Section: Chapter Questions

Problem 16SQ

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