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Relative to a perfectly-competitive labor market, a monopsonized one: Group of answer choices Pays lower wages and hires fewer workers. Pays lower wages and hires more workers. Pays higher wages and hires more workers. Pays higher wages and hires fewer workers.

Respuesta :

Relative to a perfectly-competitive labor market, a monopsonized one pays lower wages and hires fewer workers.

What is a perfectly-competitive and a monopsonized labor market?

A monopsonized labour market is a market where there is only one employer of labor. The sole employer sets the labor wages and this can lead to low level of wages.

A perfectly-competitive labor market is where there are many employers of labor. Prices are set by the forces of demand and supply.

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