Labor Market Competition
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ECONOMICS
Labor Economics
Labor Market Competition
Dominant employers can suppress wages by limiting worker options in the labor market
5 days ago
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How does monopsony power in labor markets affect wage levels and worker mobility?
It leads to higher wages because employers compete fiercely for workers.
It has no effect on wages since labor markets are always perfectly competitive.
It allows employers to set lower wages and restrict worker mobility due to limited alternative job options.
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