If a Specific Labour Market Is Considered to Be a Monopsony

Multiple Choice

If a specific labour market is considered to be a monopsony, who has the power and can impact wages?

A) The buyer and seller of labour have equal power in the market as they can both affect wages.
B) Neither the buyer nor the seller of labour has market power because the wage rate is determined by the market forces of demand and supply.
C) The buyer of labour generally has market power and they can affect wages.
D) The seller of labour generally has market power and they can affect wages.