Multiple Choice
The table shows labor demand data on the left and labor supply data on the right. We can conclude that
A) the product market is imperfectly competitive and the labor market is monopsonistic.
B) the labor market is monopsonistic, but the product market is purely competitive.
C) both the labor and product markets are purely competitive.
D) the labor market is purely competitive, but the product market is monopsonistic.
Correct Answer:
Verified
Correct Answer:
Verified
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