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16 Dec 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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