Problem
What happens to the employment decision if an employer is a price-taker in the market for its output but faces an upward-sloping supply curve of labor, that is, it can only hire additional workers if it raises the wages to its entire workforce? (Such an employer is known as a monopsonist.)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.