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(Figure: Determining Labor and Wages 2) What Will the Competitive

Question 31

Multiple Choice

(Figure: Determining Labor and Wages 2) What will the competitive firm in the product market, which is also a monopsony in the input market (as shown in the graph) , elect for the number of workers hired and wages paid?
(Figure: Determining Labor and Wages 2) What will the competitive firm in the product market, which is also a monopsony in the input market (as shown in the graph) , elect for the number of workers hired and wages paid? A) L<sub>0</sub> and W<sub>0</sub> B) L<sub>C</sub> and W<sub>C</sub> C) L<sub>0</sub> and W<sub>1</sub> D) L<sub>C</sub> and W<sub>1</sub>


A) L0 and W0
B) LC and WC
C) L0 and W1
D) LC and W1

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