When comparing a monopsonist to a competitive market, what effect does a monopsonist have on the wage and by how much does it change?
A) The monopsonist wage is higher than the competitive market wage.
B) The monopsonist wage is lower than the competitive market wage.
C) The monopsonist wage remains the same as the competitive market wage.
D) The monopsonist wage fluctuates depending on market conditions.