Micro 5.4 - Monopsonistic Markets! What is a Monopsony and what do I need to know for exam day?

This video covers topic 5.4 of the AP Microeconomics Course Exam Description (CED). It goes over the qualities of the monopsony, minimum wage, demand for labor, as well as the difference between supply and marginal resource cost.

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[myplace]

impact of minimum wage part, so when min Wage is applied, does the monopsony wage and quanity start at the supply curve? because on pervious graphs the Wm and Qm started from MRC=MRP

[RLi-qpwv]

If the supply curve of labour in a monopsony were to shift to the right, would the MRC curve shift too?

[hadashahdecker]

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[WijthaGayan]

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[anniezhang]

Question: what's the difference between the formula MRP = MR x MP and MRP = MP x P ?

[myplace]

i was trying to solve an exercise from khan academy on this lesson, i was asked to find marginal factor cost. i didnt really understand how to do it, any help please?

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Different sports leauges and franchises are the examples I use in Saying

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