Economics · Factor Pricing
Assertion (A): A monopsonist pays a lower wage than a competitive labor market. Reason (R): For a monopsonist, the marginal factor cost of labor exceeds the average factor cost (wage rate) for hiring additional units. Choose the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1A is false but R is true
- 2A is true but R is false
- 3Both A and R are true but R is not the correct explanation of A
- 4Both A and R are true and R is the correct explanation of A✓
Correct answer
Both A and R are true and R is the correct explanation of A
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Factor Pricing MCQs →Want more practice questions on Factor Pricing?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Factor Pricing