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Monopsony |
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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.
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