What is Monopsony
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.
