Interactive Labour Market Diagram

Model wage and employment in a competitive labour market, then switch to a monopsony employer to see how a dominant buyer of labour restricts employment and pays below the competitive wage. Built for AQA, Edexcel and OCR A Level Economics.

Diagram:Supply & DemandAD/ASPPFMonopolyPerfect CompetitionLabour MarketExternalitiesPhillips CurveTrade & TariffsNatural MonopolyEconomy DashboardMONIACDomino Chains

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Wage (W)Quantity of Labour (Q)2020404060608080100100D_L = MRPS_LW*Q*

Employer

Demand for Labour (MRP)

Intercept (aD₀)90.0
Slope (bD)1.0

Supply of Labour

Intercept (aS₀)10.0
Slope (bS)1.0

Minimum Wage

2nd Minimum Wage

Competitive: Q* = 40.0, W* = 50.0

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