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Long-run equilibrium under pure monopsony

Опубликовано на портале: 06-02-2003
Canadian Journal of Economics. 1990.  Vol. 23. No. 3. P. 700-704. 
This note extends the conventional short-run comparison of perfectly competitive and monopsony markets to show that the long-run monopsony equilibrium implies a greater divergence from the competitive results than is true in the short run. The conditions necessary to have a 'pure' monopsony, with power in only the labour market, are developed and generate a constant marginal revenue product of labour equal to the competitive wage. This leads the monopsonist to cut wages and labour inputs further in the long run and also forms the upper bound on the bargaining range for a union negotiating with a pure monopsonist. [Авторский текст]

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