{"id":648,"date":"2020-03-24T04:51:46","date_gmt":"2020-03-24T04:51:46","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/learning-outcome-competition-and-wages\/"},"modified":"2023-07-13T16:17:01","modified_gmt":"2023-07-13T16:17:01","slug":"learning-outcome-competition-and-wages","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/learning-outcome-competition-and-wages\/","title":{"raw":"Outcome: Competition and Wages","rendered":"Outcome: Competition and Wages"},"content":{"raw":"<h2>What you\u2019ll learn to do: analyze how perfect\/imperfect competition between buyers and sellers of factors can impact wages, interest, and rents<\/h2>\r\nIn this section, you\u00a0learn about markets with only one buyer (instead of seller), known as a monopsony, and what happens to prices and wages when buyers and sellers negotiate through collective bargaining.\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include the following:\r\n<ul>\r\n \t<li>Reading:\u00a0Monopsony<\/li>\r\n \t<li>Reading: Monopoly and Monopsony: A Comparison<\/li>\r\n \t<li>Reading: Monopsony and the Minimum Wage<\/li>\r\n \t<li>Reading:\u00a0Price Setters on the Supply Side<\/li>\r\n \t<li>Simulation: Income Distribution<\/li>\r\n \t<li>Self Check: Competition and Wages<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do: analyze how perfect\/imperfect competition between buyers and sellers of factors can impact wages, interest, and rents<\/h2>\n<p>In this section, you\u00a0learn about markets with only one buyer (instead of seller), known as a monopsony, and what happens to prices and wages when buyers and sellers negotiate through collective bargaining.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include the following:<\/p>\n<ul>\n<li>Reading:\u00a0Monopsony<\/li>\n<li>Reading: Monopoly and Monopsony: A Comparison<\/li>\n<li>Reading: Monopsony and the Minimum Wage<\/li>\n<li>Reading:\u00a0Price Setters on the Supply Side<\/li>\n<li>Simulation: Income Distribution<\/li>\n<li>Self Check: Competition and Wages<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n","protected":false},"author":32,"menu_order":8,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-648","chapter","type-chapter","status-publish","hentry"],"part":840,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":2,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/648\/revisions"}],"predecessor-version":[{"id":971,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/648\/revisions\/971"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/parts\/840"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/648\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/media?parent=648"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapter-type?post=648"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/contributor?post=648"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/license?post=648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}