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Monopsony
(redirected from monopsonistic)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.01 sec.
Monopsony
The existence of only one buyer in a market, forcing sellers to accept a lower price than the socially optimal price.

Monopsony
Describing a market for a good or service with several potential sellers and only one potential buyer. Low prices mark the monopsonies because the sellers must compete for the buyer, perhaps to below sustainable level. One may thing of a monopsony as the polar opposite of a monopoly. See also: Buyer's Market.

monopsony
Of, relating to, or being a market in which there is a single buyer of a particular good or service. Businesses selling in a market characterized by monopsony are likely to suffer below-average profitability because of the lack of alternative outlets for their products. Compare monopoly.


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Whether this underpayment arises from the monopsonistic exploitation of owners, or is directly a result of terms specified in the CBA (which allows for such exploitation), our measure of SURPLUS is simply a proxy for the difference between what such a player is worth and what he is paid.
Between 1992 and 1995, as prices were liberalised, input prices rose rapidly but important output prices remained controlled or rose slowly because of monopsonistic markets (eg many farmers sold their output to the single grain elevator or cotton gin in their district), leading to farm losses and resort to barter.
The paper is organized as follows: Section 2 presents alternative models of employment determination by school districts, contrasting the responses to minimum salaries by competitive and monopsonistic school districts.
 
 
 
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