Trade Unions in a Monopsony Labour Market
- A-Level, IB
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 13 Apr 2019
In this revision video we consider the theory of wage-setting with a monopsony employer and the possible impact that a trade union might have on wages and employment. We also look at efficiency wage theory and mutual gains from pay bargaining between stakeholders.