Firms voluntarily pay a wage greater than competitive wage

Assignment Help Business Economics

Reference no: EM131102135

A monopsonist has a rising MRC curve. Why? It pays a wage lower than the competitive wage. Why?

A union and a monopsonist comprise a bilateral monopoly. Why would a worker prefer to be in a union in such a situation? (Think about your answer to Q4 above).

Why might firms voluntarily pay a wage greater than the competitive (market clearing) wage?

Reference no: EM131102135

Questions Cloud

Why is money now not the same as money later : Why is money now not the same as money later? Briefly describe two of the roles assigned to interest rates. What determines land rent? Describe one of the key assumptions.

Examine those marketing areas you found most interesting : Marketing is a dynamic and exciting science. This course was designed to give you an opportunity to experience an overview of the many disciplines/ areas of this science. For our final discussion, examine those marketing areas you found most inter..

Question regarding the concept of consideration : In colonial times, the concept of consideration was exported to many common law countries, but it is unknown in Scotland and in civil law jurisdictions?

Keynesian explanation of prolonged recessionary : Discussing the Keynesian explanation of prolonged recessionary and inflationary gaps as well as the Keynesian approach to correcting these problems

Firms voluntarily pay a wage greater than competitive wage : A monopsonist has a rising MRC curve. Why? It pays a wage lower than the competitive wage. Why? Why might firms voluntarily pay a wage greater than the competitive (market clearing) wage?

Question regarding the simple contracts : Consideration is a concept devised by English common law, and is required for simple contracts, but not for special contracts?

What is the opportunity cost of paid work : When you buy a good in the market place, some one is selling it to you. Thus, when you go to work, you sell yourself. True, False, Explain. What is the opportunity cost of paid work? A perfectly competitive labor market sets what two curves equal to ..

Basis of public policy : In contrast, domestic and social agreements such as those between children and parents are typically unenforceable on the basis of public policy?

The health promotion issues : Compare and contrast interventions that have been implemented to produce individual behaviour change with interventions focussed on population level change for your chosen issue.

User Account

All Pages