Video - Labor Markets: Perfect and Imperfect Competition

I found a video on Labor Markets: Perfect and Imperfect Competition at http://www.youtube.com/watch?v=JNkchLUURWg.

I can't be bothered to upload it and I am not sure how to either, so you can go to the website to look at it if you like.

This video clip basically talks about the labour market under perfect competition and monopoly conditions. Under perfect compeition, labour can be hired at a fixed price in any quantities. For monopoly however, exploitation can occur when the wage paid to the workers are less than their the marginal revenue they can give the company hiring them. This is when labout unions come in to push for higher wages. The video clip also introduces Marginal Factor Cost which corresponds to the LDMR principle.

This video clip can be used to explain the different types of market structures and their implications to the real world: labour wages and exploitation of wages. It can be showed in conjuction with some articles about exploitation of labour by MNCs which have substantial monopoly power.