Within the national rail network, a single state-sanctioned rail infrastructure operator acts as a monopsonist, employing approximately 90% of all qualified locomotive train drivers. Concurrently, a powerful national transport workers' union represents over 85% of these drivers, establishing a highly organised monopoly supplier of labour.
Evaluate, using an appropriate diagram(s), the impact of a bilateral monopoly on the equilibrium wage rate and level of employment in a labour market.
13 exam-style questions on OCR A Level Economics The interaction of labour markets. Each one has a worked solution and a mark scheme showing where the marks go.