In a factor market where a buyer has monopsony power

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    the expenditure for the factor is greater than the factor price.
     the price and quantity of the factor purchased will be higher than in a competitive factor market.
     the factor price is equal to the value of the marginal product of that factor.
     the quantity of the factor purchased will be higher and the price lower than in a competitive factor market.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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the expenditure for the factor is greater than the factor price.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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