A monopsony employer facing a perfectly competitive supply, Business Economics

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A monopsony employer facing a perfectly competitive supply

Explain the follow question

1. A monopsony employer facing a perfectly competitive supply of labor would pay a wage equal to marginal revenue product

2. Wages for labor will be highest in labor markets consisting of perfectly competitive buyers and a monopolist

3. Equilibrium in oligopoly markets is characterized by P>AC and MR=MC.

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Business Economics: A monopsony employer facing a perfectly competitive supply

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Business Economics: A monopsony employer facing a perfectly competitive supply

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