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Question
If a minimum wage is established, a monopsonist faces
A) an upward sloping supply of labor at all quantities of labor.
B) a downward sloping supply of labor at all quantities of labor.
C) a horizontal supply of labor at the minimum wage and the upward sloping portion of the labor supply curve above minimum wage.
D) a horizontal supply of labor at the minimum wage and the downward sloping portion of the labor demand curve below minimum wage.
Answer
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