what is sad is people making rubbish reaction videos get way more views than this guy whose making such an important contribution in making a student's life less so much complicated than before
will have micro final tmr, never get right in previous midterms. this guy is so good. He might not be the smartest (possible though), but really good at making things easy to understand.
Been watching this whole playlist on times 2 speed and then put it to normal for this one because I dont get it as much and oh my god its trippy, it feels like hes talking in slow motion
I don't even speak english (crearly I understand it though), but you tought me better than the other professors that I have had before now. Thank you very much!
I was wondering if you could do a video on the effect of trade unions on monopsonist employers producing at the wage cost minimising quantity of workers? The kinks in the new cost curves have me confused in my textbook. Thank you for all your videos btw Dal, you should be knighted.
@ecoplusdal I was just wondering why in a monopsony, do firm have to increase the wage rate for all of its employees when adding a additional input of labour. I thought monopsony have the power to exploit labour by offering low wages at the point of where MCl equals MRPl and each additional labour input after that point simply gets a rise in hourly wage. If in a imperfect labour market i.e monoposony all workers are paid the same what market structure does wage discrimination take place?
Abbas Khabbaz hi, I am a newly second year student in college and I think that the reason why the wages go up for all the employees and not jus one is due to the possibility that they are in a trade union... as they fight for equal rights and protection for employees To be honest I think it's more to do with like equality of society and how if one persons wages goes up why shouldn't others... like there is the typical reasons that not all workers are homogeneous (the same) hence MRP will differ but I think a trade union is there to ensure every worker is treated the same even thought they are different in several ways I also don't think power of a monopsony employer has anything to do with this I think it's just one of those things I hope this has helped, Sahil Akhtar 17 !!
Honestly I think its because of the Equal pay act 1963-- which doesn't allow employers to pay their workers different wages for broadly doing the same job
I could be missing something, but at Wm demand > supply... Therefore all of those willing to work for Wm, will be employed but there's still demand left at this price. Why doesn't the employer increase demand? Is this due to MC>MR?
Why do we read wages at supply curve If a monopsony is employing wages at mc = mrp why can’t the intersection point be the wage as well? Why does it have to be at Wm?
Excellent videos!!! Is it possible if you could make a video on hoe economic inactivity and skills shortage causes labour market failure. Many thanks!!
When we say they have to pay the extra worker and every one else higher wages, are we implying that all the workers who were willing to work for the initial wage are already employed?
Hi, sorry if I may ask, what if the employer is a monopsonist in hiring labout but monopolist in selling it products? What is the possible explanation to it?
Will the MC always be higher than AC? Surely cultural factors, where workers don't discuss wages for others, would mean they don't know that they are paid less than the newly employed worker, so MC=AC?
You could argue it depends on the access to perfect information- i.e. a massive sweatshop is likely to have a steeper MCl curve as workers are in tight conditions so can discuss (i.e perfect information), whereas in a more niche market say like graphic design freelancers for a business, are less likely to be in contact, (thus not perfect information), would mean MC would be a lot less steep
monopsony as the price of labour increases, the marginal expenses on labour A. Increase B. Remain same C. Decrease D. Are very high Plz ans this which one is correct
This is crucial. COMPETTIVE LABOUR MAKTET PUTCOMDS ST HOGHER RMPLOYEBBT AND HIGHER WAGES ARE HEIG DISORTED LEading to in recent as a monopsony employs less workers and has wage making ability and thus Pays workers less
Why does the monopsony give higher wages to already employed workers when hiring another one? Where is the logic in that? Especially when the monopsony is the pricemaker
Hi there, ty for your explanation: I have continuing questions to that and your trade union video: Can plattform companies like Amazon or so also become like international monopsonies? And if so: Are international trade unions the answer to that? What can international trade unions actually do when collective bargaining becomes diffult in terms of fractured employment like fixed-term or part-time employment, where the velocity of profession change becomes so high, that exeptional workers from the same profession are not represented by the collective bargaining anymore (a.k.a. the union density drops)? Greetings.
I assume they couldn’t really become monopsonies as there are too many companies offering similar jobs, so although they may become i dominant employer, I doubt it would ever be dominant enough to act like a monopsony. Don’t know too much about trade unions so don’t know what to say for the second part. Just my thoughts though.
What about private schools and private tutoring. Isn't that another employer of teaching labour. And what about private hospitals. Isn't that another employer of nurses
this guy is seriously underrated and undersubscribed.
couldn't agree more big man
you are sooo correct
a merit good, one might say
You are very right.
Because he gets so many people A's first time they don't need to sub
trust econdal to come in clutch with the labour market videos just before the AQA exam what a hero
what is sad is people making rubbish reaction videos get way more views than this guy whose making such an important contribution in making a student's life less so much complicated than before
Market Failure in RUclips
I agree, he keeps it so simple
overproduction of trash videos
Overconsumption of demerit goods
Negative externalities on RUclips. Tax needed.
he just keeps blowing my mind each time
Same as here 😅
A few hours before my exam, so helpful!
Reading in Microeconomics books either in german or in english provides little or no understanding, watching your video twice.. I've got it! Thank you
That extension video at the end was mind blowing! Simply genius!
these lectures are a godsend for even an MSc student with little Econ background. Thank you dal!
The way you have explained the determination of AC and MC is just mind-blowing!
Incredibly clear- 100% worth the watch. Thank you sir.
It's 2018 and I'm so glad I found this. Thank you for being so clear.
will have micro final tmr, never get right in previous midterms. this guy is so good. He might not be the smartest (possible though), but really good at making things easy to understand.
Been watching this whole playlist on times 2 speed and then put it to normal for this one because I dont get it as much and oh my god its trippy, it feels like hes talking in slow motion
this guy is the best teacher i swear
The last part won my heart.. ❤️
Binge watching all these videos because my exam is tomorrow :O
a level econs mcq?? same lmao
How...how did it go?
@@EternalShadow1667 bro asking 3 years later how did it go
I don't even speak english (crearly I understand it though), but you tought me better than the other professors that I have had before now. Thank you very much!
As an economics teacher - brilliant!
wish my ap econ teacher was British. good show, mate.
Fantastic illustration of Monosony!
Hey, I have my first economics exam tomorrow and my prof made it so much more confusing then it had to be. Thanks so much!
I was wondering if you could do a video on the effect of trade unions on monopsonist employers producing at the wage cost minimising quantity of workers? The kinks in the new cost curves have me confused in my textbook.
Thank you for all your videos btw Dal, you should be knighted.
Haha, you're very kind Leo - too kind! That video is coming, don't worry
Thank you so much sir 😊 I love your teachings a lot. 😍
Everyday I watch your videos😁
incredible!!!!,so clear and precise....thanks a lot sir
great vid. thank you so much. greetings from Poland :D
This is really clear and helpful. Thanks!
Thankyou so much I now have a better understanding of the concept
Exam in half hour - thanks dal
Very important 7 minutes video for me..thanks
youre an amazing sir. thankyou for everythind and the explanations
Absolutely a great explanation
Very nice vedio brother keep making such vedios.
very good explanation.
helped me alot
thanks!! :D
@ecoplusdal I was just wondering why in a monopsony, do firm have to increase the wage rate for all of its employees when adding a additional input of labour. I thought monopsony have the power to exploit labour by offering low wages at the point of where MCl equals MRPl and each additional labour input after that point simply gets a rise in hourly wage. If in a imperfect labour market i.e monoposony all workers are paid the same what market structure does wage discrimination take place?
Abbas Khabbaz hi, I am a newly second year student in college and I think that the reason why the wages go up for all the employees and not jus one is due to the possibility that they are in a trade union... as they fight for equal rights and protection for employees
To be honest I think it's more to do with like equality of society and how if one persons wages goes up why shouldn't others... like there is the typical reasons that not all workers are homogeneous (the same) hence MRP will differ but I think a trade union is there to ensure every worker is treated the same even thought they are different in several ways
I also don't think power of a monopsony employer has anything to do with this I think it's just one of those things
I hope this has helped, Sahil Akhtar 17 !!
Honestly I think its because of the Equal pay act 1963-- which doesn't allow employers to pay their workers different wages for broadly doing the same job
awesone teaching tutorials!!!! Thank you very much
Thanks Dal
thanks sir
you are s awesome teacher
Thank you so much for the videos😁
Thank you sir
Go bless you 🙏
so helpful! great explanations!
terimakasih, sir. ini sangat membantu saya
Amazing work my guy
You're a life saver pal
def. as good as clifford and without the schtick, just pure teaching
tbh you looked hot at the end when you explain abt s=acl
this is amazing thank you so much
I could be missing something, but at Wm demand > supply... Therefore all of those willing to work for Wm, will be employed but there's still demand left at this price. Why doesn't the employer increase demand? Is this due to MC>MR?
Thankyou Bro,u made may day🥹
Why do we read wages at supply curve
If a monopsony is employing wages at mc = mrp why can’t the intersection point be the wage as well? Why does it have to be at Wm?
What a great video Thank you!
THANK YOU SO VERY MUCH
Omg love you thank you so much
Excellent videos!!!
Is it possible if you could make a video on hoe economic inactivity and skills shortage causes labour market failure.
Many thanks!!
When we say they have to pay the extra worker and every one else higher wages, are we implying that all the workers who were willing to work for the initial wage are already employed?
Thank u so much ☺️
Thank you!
thanks you helped me so much
Might be a silly question but is ACl always = to the Sl, not just for a monopsonist? Cheers
Correct always, just like how AR is always equals to D
Many thanks!
You are superb .
Can the Demand Curve for a Monopsony be the MRP curve or is that just for firms in perfectly competitive markets?
It would be great if you explain the maths behind as well, anyway, thank you!!!!
Is the MCL and the ACL supposed to be parallel? pls help thank you
you're a genius
Thank you.
Please make a video of monopsony market please
amazing!
Hi, sorry if I may ask, what if the employer is a monopsonist in hiring labout but monopolist in selling it products? What is the possible explanation to it?
Abel Ashby thank you! That explains a lot! :)
Will the MC always be higher than AC? Surely cultural factors, where workers don't discuss wages for others, would mean they don't know that they are paid less than the newly employed worker, so MC=AC?
You could argue it depends on the access to perfect information- i.e. a massive sweatshop is likely to have a steeper MCl curve as workers are in tight conditions so can discuss (i.e perfect information), whereas in a more niche market say like graphic design freelancers for a business, are less likely to be in contact, (thus not perfect information), would mean MC would be a lot less steep
+EconPlusDal what about oligosponistic labor markets?
monopsony as the price of labour increases, the marginal expenses on labour
A. Increase
B. Remain same
C. Decrease
D. Are very high
Plz ans this which one is correct
hi, great explanation but what does w = a+bq mean, what are an and B?
+Roger I've completed my A levels now but thank you x
Is this Bilateral monopsony model
Thanks
thank you a lot
thank u so much sir
This is crucial. COMPETTIVE LABOUR MAKTET PUTCOMDS ST HOGHER RMPLOYEBBT AND HIGHER WAGES ARE HEIG DISORTED LEading to in recent as a monopsony employs less workers and has wage making ability and thus Pays workers less
run for prime minister
damn it... youre really good
Awesome
Why does the monopsony give higher wages to already employed workers when hiring another one? Where is the logic in that? Especially when the monopsony is the pricemaker
Whats up mr paul sahara
@@sharepremium8614 Nuthing, just chilling, killing.
@@truemamrdi4all still chilling?
Dal 🙌🏻
Another example of monopsony is when all men die except 1 man
Hey guys - what does MRP stand for?
Marginal Revenue Product
What's his name?
Hi there, ty for your explanation: I have continuing questions to that and your trade union video: Can plattform companies like Amazon or so also become like international monopsonies? And if so: Are international trade unions the answer to that? What can international trade unions actually do when collective bargaining becomes diffult in terms of fractured employment like fixed-term or part-time employment, where the velocity of profession change becomes so high, that exeptional workers from the same profession are not represented by the collective bargaining anymore (a.k.a. the union density drops)? Greetings.
I assume they couldn’t really become monopsonies as there are too many companies offering similar jobs, so although they may become i dominant employer, I doubt it would ever be dominant enough to act like a monopsony. Don’t know too much about trade unions so don’t know what to say for the second part. Just my thoughts though.
Got my paper 3 A level in 2 hours
GOAT
exam tomorrow, bless you
Hey Mid! How did the exam go?
What about private schools and private tutoring. Isn't that another employer of teaching labour. And what about private hospitals. Isn't that another employer of nurses
The goat
life is fun boys and girls.
What is mrp…?.
Marginal revenue product. I.e the extra revenue generated from hiring one more worker
Ey frer twen mons tw
Weh
Mncmprn sa likimama la net
La demain ena en mock p4 la
Tn sap mw
Mpa cav remercier tw assez
La mual bour li la
❤❤❤❤❤❤❤❤❤❤❤
Oh yeah yeah
are you a NRI????
I love you daddy dal
Yay!!! I got two thumbs up 😃🤣😂
I love you