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1 Nov 2021

Introduction

A monopsony is a market structure in which the monopsonist is the sole purchaser. A monopsony, like a monopoly, has unfavorable economic conditions. The distinction between monopolies and a monopsony is mostly based on the governing companies. A monopolized market is dominated by a single buyer, whereas a monopolized market is dominated by a single seller. Monosonists are popular in places where they provide the majority of all occupations.

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