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While it is generally agreed that minimum wage price floors reduce employment, [9] economic literature has yet to form a consensus regarding the effects in the presence of monopsony power. [6] Some studies have shown that if monopsony power is present within a labour market the effect is reversed and a minimum wage could increase employment. [10]
The field of comparative media system research has a long tradition reaching back to the study Four Theories of the Press by Siebert, Peterson and Schramm from 1956. This book was the origin of the academic debate on comparing and classifying media systems, [2] whereas it was normatively biased [3] and strongly influenced by the ideologies of the Cold War era. [4]
Agenda-setting theory was formally developed by Maxwell McCombs and Donald Lewis Shaw in a study on the 1968 presidential election deemed "the Chapel Hill study". McCombs and Shaw demonstrated a strong correlation between one hundred Chapel Hill residents' thought on what was the most important election issue and what the local news media reported was the most important issue.
A bilateral monopoly is a market structure consisting of both a monopoly (a single seller) and a monopsony (a single buyer). [1]Bilateral monopoly is a market structure that involves a single supplier and a single buyer, combining monopoly power on the selling side (i.e., single seller) and monopsony power on the buying side (i.e., single buyer).
The microeconomic theory of duopsony assumes two entities to have market power over all sellers as the only two purchasers of a good or service. This is a similar power to that of a Duopolist, which can influence the price for its buyers in a Duopoly, where multiple buyers have only two sellers of a good or service available to purchase from. [1]
Furthermore, monopsonists are typically more prevalent in factor markets in comparison to product markets. A monopsonist is an area of concern for factor markets as, a monopsony has the ability to heavily influence the prices and quantity in the factor market, this is due to the firm's market power over a particular factor of production. [33]
Current: In the microeconomic theory of monopsony, a single entity is assumed to have market power over sellers as the only purchaser of a good or service, much in the same manner that a monopolist can influence the price for its buyers in a monopoly, in which only one seller faces many buyers.
Harold Innis examined the rise and fall of ancient empires as a way of tracing the effects of communications media. He looked at media that led to the growth of an empire; those that sustained it during its periods of success, and then, the communications changes that hastened an empire's collapse.