Monopsony
Market structure with one buyer / From Wikipedia, the free encyclopedia
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In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from.
Quick Facts Number, Sellers ...
Number | One | Few |
---|---|---|
Sellers | Monopoly | Oligopoly |
Buyers | Monopsony | Oligopsony |
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