Spec 7136
Revise AQA A Level Economics 1.6.4 The determination of relative wage rates and levels of employment in imperfectly competitive labour markets with the question bank, lessons, revision guides, and flashcards.
How various factors such as monopsony power, trade unions and imperfect information contribute to imperfections in a labour market. • How, in a monopsony labour market, the employer can use market power to reduce both the relative wage rate and the level of employment below those that would exist in a perfectly competitive labour market.
