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Monopsony (What is it? (Examples (NHS, Armed forces, Regional: a large…
Monopsony
What is it?
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- MCL= MRP determines the number of workers employed.
- MCL is steeper and diverges from ACL=Supply
- ACL=Supply shows the 'wage'
- where the number of workers dissects the ACL=Supply shows the WAGE THE MONOPSONIST offers
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