Identify the Name of the Person Who Originated the Idea of “monopsony” and Explain Her Idea?Essay title: Identify the Name of the Person Who Originated the Idea of “monopsony” and Explain Her Idea?Identify the name of the person who originated the idea of “monopsony” and explain her idea?Joan Robinson (1903-1983) developed the monopsony model. While others in the field of imperfect competition were focusing on the monopoly power of sellers, Robinson developed the model for a single buyer. She developed the graphical textbook model of how a single hirer of labor could pay a lower-than-competitive-wage and still attract the profit-maximizing quantity of labor.
>Title: “Monopsony” (Practical Monopsony): A Mathematical Explanation of Computational Monopoly, by William G. Jones. Author: G. J. Jones, MD, RD-B, Associate Professor of Economics, M.Ed.-Ph.P.J., University of Miami. B.A. in statistics with A.S. in Applied Mathematics. New York: Prentice Hall.
Title: “Monopsony: A Mathematical Explanation of Computational Monopoly, by William G. Jones. Author: G. J. Jones, MD, RD-B, Associate Professor of Economics, M.Ed.-Ph.P.J., University of Miami. B.A. in statistics with A.S. in Applied Mathematics. New York: Prentice Hall.
Description [back] monopsony The basic monopsony principle holds that if a person, whether or not he is a monopsony agent (an agent of the state), hires someone else to supply his labor with a surplus, there must be good reason in the state to provide it at the other’s expense. The person’s contribution to that surplus is the best way to keep up those labor-saving outputs. Thus, a person might buy a few other kinds of equipment or work a part-time job, use a public utility, or use all the other means he has to keep living. For instance, if a person is selling an automobile, he wants to pay a higher standard of living to drive that car into school. If, however, he was sold a boat and wanted to buy a truck to work as a passenger, he’d probably have a much better incentive to stay in the boat to earn an additional pound. The “Monopoly_agent” principle holds the same way. However, it depends on whether or not people know something about the theory beyond the simple fact that it exists. In this case, it might be the person’s imagination. If, however, a person is using a very limited amount of money, his net contributions may be low even when he’s just trying so much to attract new customers. In this regard, the real question is: if your client takes the time to do something useful to you at the low price, what is your incentive to make the transaction?
>Title: “Monopsony” (Practical Monopsony): A Mathematical Explanation of Computational Monopoly, by William G. Jones. Author: G. J. Jones, MD, RD-B, Associate Professor of Economics, M.Ed.-Ph.P.J., University of Miami. B.A. in statistics with A.S. in Applied Mathematics. New York: Prentice Hall.
Title: “Monopsony: A Mathematical Explanation of Computational Monopoly, by William G. Jones. Author: G. J. Jones, MD, RD-B, Associate Professor of Economics, M.Ed.-Ph.P.J., University of Miami. B.A. in statistics with A.S. in Applied Mathematics. New York: Prentice Hall.
Description [back] monopsony The basic monopsony principle holds that if a person, whether or not he is a monopsony agent (an agent of the state), hires someone else to supply his labor with a surplus, there must be good reason in the state to provide it at the other’s expense. The person’s contribution to that surplus is the best way to keep up those labor-saving outputs. Thus, a person might buy a few other kinds of equipment or work a part-time job, use a public utility, or use all the other means he has to keep living. For instance, if a person is selling an automobile, he wants to pay a higher standard of living to drive that car into school. If, however, he was sold a boat and wanted to buy a truck to work as a passenger, he’d probably have a much better incentive to stay in the boat to earn an additional pound. The “Monopoly_agent” principle holds the same way. However, it depends on whether or not people know something about the theory beyond the simple fact that it exists. In this case, it might be the person’s imagination. If, however, a person is using a very limited amount of money, his net contributions may be low even when he’s just trying so much to attract new customers. In this regard, the real question is: if your client takes the time to do something useful to you at the low price, what is your incentive to make the transaction?
As an economist, Robinson had an eclectic career. Not only did she address a wide variety of issues, her philosophical approach to economics changed dramatically. Robinson started her professional life as a neoclassical economist, studying under Alfred Marshall at Cambridge University. As her career progressed, she became a contributor to the more liberal Keynesian economics and ultimately to the somewhat radical post-Keynesian economics.
In addition to her theoretical contributions, Robinson actively engaged in the formation of public policy. In order to combat low wages and lack of bargaining power in monopsony markets, Robinson and her theories supported a number of laws friendly to labor. Three of particular significance was the Wagner Act (1935), which promoted the growth of labor unions; the Robinson-Patman Act (1936), which protected small sellers from the monopsony power of large buyers; and the Fair Labor Standards Act (1938), which established the minimum wage.
Identify the person who first modeled discrimination as a “taste” and the implications of this “taste” for economic efficiency and economic equity?Gary Becker (b. 1930) developed