monopsony
Cards (29)
- What impact do monopsonies have on efficient labor market outcomes?
- What defines a monopsony?
- How does the number of workers employed by one employer affect monopsony power?
- In the UK, which professions are arguably employed by a monopsony employer?
- Who is the primary employer of teachers and nurses in the UK?
- Are monopsonies wage takers or wage makers?
- How do monopsonies maximize revenue from their workers?
- In a monopsony labor market model, what is on the y-axis?
- In a monopsony labor market model, what is on the x-axis?
- In a monopsony labor market model, what is the demand curve for labor equal to?
- For a monopsony, what is the supply of labor equal to?
- What does the upward slope of the labor supply curve indicate for a monopsonist?
- How does a monopsonist's wage increase affect all its workers?
- Why is the marginal cost of labor greater than the average cost of labor for a monopsonist?
- Up to what point will a monopsonist employ workers?
- How is the wage determined for the quantity of workers employed by the monopsonist?
- Where are wages and quantities determined in a competitive labor market?
- How does a monopsonist's employment level compare to a competitive labor market?
- How do wages in a monopsony labor market compare to those in a competitive labor market?
- In a monopsony labor market, how does the wage compare to the MRP?
- What does a large difference between MRP and wages indicate?
- How can we measure the degree of monopsony power in a labor market?
- For a monopoly, what curve is equal to demand?
- What does the supply of labor tell us?
- What form does the supply curve take?
- How do you calculate the average cost of labor?
- How do you calculate the total cost of labor?
- What is the relationship between the average cost of labor and wages?
- If the average cost of labor is equal to the wage and the supply curve describes quantity of workers at wages, what is also equal to the supply curve?