What is monosony?

Answer 1

a single purchaser of a resource such as labor (similar to a monopoly =, but the only firm who is purchasing)

Answer 2

Monosony refers to a market situation in which there is only one buyer but many sellers. This concentration of buying power can lead to the buyer having significant influence over prices. Monopsony is the buyer's equivalent to a monopoly, where there is only one seller in a market.