Use the Following Statements to Answer This Question: I

Multiple Choice

Use the following statements to answer this question: I. If the market supply is perfectly elastic, then a few buyers with monopsony power can achieve the same percentage mark-down in the purchase price as a pure monopsonist.
II) The deadweight loss associated with a monopsony declines as the market supply curve becomes more elastic.

A) I and II are true.
B) I is true and II is false.
C) II is true and I is false.
D) I and II are false.