Can wage rate be determined in a bilateral monopoly?

In a bilateral monopoly, where a single buyer (monopsonist) and a single seller (monopolist) exist, the wage rate can be negotiated between the two parties. The wage will be influenced by the bargaining power of each side, market conditions, and the relative demand and supply for labor. Ultimately, the wage rate is not fixed and can vary depending on the outcome of the negotiation process between the buyer and seller.