Wages in a perfectly competitive labour market will always be higher than wages in a monopsony labour market. With the help of a diagram, evaluate this statement. Section C Answer one question. EITHER

Economics

IGCSE&ALevel

CAIE

Exam No：9708_w24_qp_43 Year：2024 Question No：3

Answer:

8.3.8.1 influence of trade unions on wage determination and employment in a labour market

8.3.8.2 influence of government on wage determination and employment in a labour market using a national minimum wage

8.3.8.3 influence of monopsony employers on wage determination and employment in a labour market

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