How do monopsony and monopoly differ in their effects on market outcomes?

• A. Monopsony leads to higher wages and lower employment, while monopoly leads to lower prices and lower quantity.
• B. Monopsony leads to lower wages and higher employment, while monopoly leads to higher prices and higher quantity.
• C. Monopsony leads to lower wages and employment, while monopoly leads to higher prices and lower quantity.
• D. Monopsony leads to higher wages and employment, while monopoly leads to lower prices and higher quantity.

Answer: (C)