Question: Based upon evidence presented in this article, does Walmart function as a monopsony in labor markets, or is the market for retail labor competitive? Explain.

Based upon evidence presented in this article, does Walmart function as a monopsony in labor markets, or is the market for retail labor competitive?

Explain.

Walmart announced it will pay 500,000 workers at least $9 an hour from April 2015 and at least $10 an hour from February 2016. The union-backed group OUR Walmart took credit for the company’s announcement, but a leader of the group said the improved wages fell short of what was needed. Black Friday protesters were demanding $15 an hour.

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