What occurs in a Monopsony Labour Market?

-Because only 1 Employer exists, the Monopsonies Employer can pay a Wage that is Less than the Worker's MRP and Less than what a Perfectly Competitive Labour Market would pay -The MC Curve is above the AC Curve so Hiring one more Employee would be more Expensive overall. The AC Curve represents the Labour Supply Curve. Firms will hire a Number of Workers where MRP = MC and Hire at the Wage Rate where its equal to the AC.