Lecture 19 2.24.06student

Lecture 19 2.24.06student - Lecture 19 Factor Markets and...

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Lecture 19 Factor Markets and Vertical Integration
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Competitive factor market Effect of monopolies on factor markets Vertical integration Monopsony
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Long-Run Factor Demand Derived demand Factor market demand curve Marginal revenue product Market demand for labor
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Labor Demand of a Thread Mill
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Market Demand for Labor
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Firm Demand for Labor
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Market Demand for Labor
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Monopolies and Factor Markets Role of market power 1 (1 ) L L MRP P MP ε = + Competitive market model Monopolized factor market and competitive output market Monopolized factor and output markets
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How Labor Demand Varies with Market Structure
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Effects of Output Market Structure on Labor Market Equilibrium
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Application Union Monopoly Power
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Monopoly in Related Markets Double monopoly markup Vertical integration Premerger and postmerger equilibrium
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Double Monopoly Markup
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Vertical Organization
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Monopsony Comparison to competitive price Derivation of M.E.
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