What you’ll learn to do: analyze how perfect/imperfect competition between buyers and sellers of factors can impact wages, interest, and rents In this section, you learn about markets with only one buyer (instead of seller), known as a monopsony, and what happens to prices and wages when buyers and sellers negotiate through collective bargaining. LEARNING ACTIVITIES The learning activities for this section include the following: Reading: Monopsony Reading: Monopoly and Monopsony: A Comparison Reading: Monopsony and the Minimum Wage Reading: Price Setters on the Supply Side Simulation: Income Distribution Self Check: Competition and Wages Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section. CC licensed content, Original Authored by : Steven Greenlaw and Lumen Learning. License : CC BY: Attribution