1 / 10

Monopsony, Unions, Bilateral Monopoly Labor Markets

Monopsony Model. Critical Attributes of Monopsony Labor Markets:There is a single buyer of a certain labor typeMovement of labor is restricted, either geographically or because workers would have to acquire new skillsThe employer is a

shona
Télécharger la présentation

Monopsony, Unions, Bilateral Monopoly Labor Markets

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. Monopsony, Unions, & Bilateral Monopoly Labor Markets Imperfectly Competitive Labor Markets

    2. Monopsony Model Critical Attributes of Monopsony Labor Markets: There is a single buyer of a certain labor type Movement of labor is restricted, either geographically or because workers would have to acquire new skills The employer is a wage maker, because the wage rate it must pay varies directly with the number of workers it employs

    3. Graphing Monopsony Upward sloping supply curve S = ARC The more workers a firm attempts to employ the higher the wage they must offer MRC is higher than the wage If monopsonists increase wages, they must do so for all workers they employ Equilibrium wage & employment Monopsonists hire the quantity of workers at MRC = MRP, at the wage on the supply curve directly below MRC = MRP

More Related