Monopsony Power-Immobility of Labor

The Immobility of labor is significant economically since: (i) Most of the people like to move, however can't. (ii) People in high salary occupations won't be completely compensated for the costs and difficulties related with their occupations. (iii) This weakens the relationship among wage rates and attractiveness of the work in various occupations. (iv) People in untrained jobs receive excessively very high wages.

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