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17.4: Outcome- Competition and Wages

  • Page ID
    249506
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    What you’ll learn to do: analyze how perfect/imperfect competition between buyers and sellers of factors can impact wages, interest, and rents

    In this section, you learn about markets with only one buyer (instead of seller), known as a monopsony, and what happens to prices and wages when buyers and sellers negotiate through collective bargaining.

    LEARNING ACTIVITIES

    The learning activities for this section include the following:

    • Reading: Monopsony
    • Reading: Monopoly and Monopsony: A Comparison
    • Reading: Monopsony and the Minimum Wage
    • Reading: Price Setters on the Supply Side
    • Simulation: Income Distribution
    • Self Check: Competition and Wages

    Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.

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    17.4: Outcome- Competition and Wages is shared under a not declared license and was authored, remixed, and/or curated by LibreTexts.

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