Analyzing the impact of monopoly industry on labor force based on an economic model which is profit maximization -Take takeaway platform monopoly as an example

Siqin Wang; Yeting Wang

doi:10.54097/hbem.v8i.7211

Authors

Siqin Wang
Yeting Wang

DOI:

https://doi.org/10.54097/hbem.v8i.7211

Keywords:

Monopoly market, Profit maximization, Profit distribution, Takeaway Riders, Profit of labour.

Abstract

In this era of rapid Internet advancement, the platform economy is getting bigger and bigger and moving towards monopoly. Under the control of capital, firms maximize their profits by undermining the interests of workers. This paper uses theoretical and data analysis to explore the business strategies that companies choose to maximize their profits and the impact on labor under the monopoly of companies. We concluded that the take-out platforms are centered on "more work, more pay". By studying the benefit distribution model and scheme of the platform, we analyze the impact of the take-out platform on the riders while maximizing their own revenue. Microeconomics is used as a basis to analyze the negative impact of companies in monopolistic markets on the labor market and the labor force in the market that is monopolized by buyers. The government needs to improve the management terms and anti-monopoly is also very important to control and sanction the behavior of takeaway platforms to bring more protection to the rights of riders.

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