Monopsony: Mastering Monopsony, Unveiling the Economics of Labor Markets

According to the principles of economics, a monopsony is a market structure in which a single buyer controls the market to a significant degree by acting as the primary purchaser of products and services that are supplied by a large number of potential suppliers. Assuming that a single entity is the lone purchaser of an item or service, the microeconomic theory of monopsony establishes that this firm possesses market power over all other sellers. This is a power that is comparable to that of a monopolist, who has the ability to influence the price for its buyers in a monopoly, which is a situation in which several buyers have only one seller of a product or service accessible to purchase something from.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Monopsony

Chapter 2: Labour economics

Chapter 3: Microeconomics

Chapter 4: Minimum wage

Chapter 5: Perfect competition

Chapter 6: New Keynesian economics

Chapter 7: Phillips curve

Chapter 8: Employment

Chapter 9: Classical general equilibrium model

Chapter 10: Efficiency wage

Chapter 11: Marginal revenue productivity theory of wages

Chapter 12: Edward Chamberlin

Chapter 13: Bilateral monopoly

Chapter 14: Labour market flexibility

Chapter 15: Goodwin model (economics)

Chapter 16: Factor market

Chapter 17: Inequality of bargaining power

Chapter 18: Labor demand

Chapter 19: Alan Manning

Chapter 20: Shapiro-Stiglitz theory

Chapter 21: Francis Kramarz

(II) Answering the public top questions about monopsony.

(III) Real world examples for the usage of monopsony in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Monopsony.