Ans: In economics, a monopsony is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, similar to a monopoly, in which only one seller faces many buyers. As the only or majority purchaser of a good or service, the "monopsonist" may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyer.
A monopsony is a market condition where multiple sellers, [the majority of sellers in that market] all have to sell to the same individual buyer because that buyer is buying a significant portion of the entire market. This gives the buyer the advantage because the buyer can keep asking each seller to match or undercut the competing sellers prices, thus driving down the prices of the products in that market.
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The post office is a monopsony employer of postal workers.
Market with one buyer and and one seller is called bilateral monopsony
The answer to this question is "a monopsony". This is where one buyer faces many sellers.
Monopsony
i need assumptions of monopsony ..................
in my eyes, monopsony do not have any advantages. for example, i am the ower of my website, which is the selling website. so, what i hope is the market is free and can control by ourself, not the monopsony company control the whole market, and we do not have any chance to do the business. this is just my own opinion.
Monopsony
Monopsony
Frank A. Walsh has written: 'Monopsony power with variable effort'
An example of monopsony in The Grapes of Wrath is when the large landowners in California have a near-monopoly on purchasing labor from the migrant workers. Through their power to control wages and working conditions due to their dominant position in the market, they are able to exploit the workers and pay them minimal wages.
OligopolyBuyers Sellers MarketMany 1 Monopoly" 2 Duopoly" 3+ Oligopoly1 Many Monopsony
monopoly? The control of a market by a single enterprise that is the only source of supply is a monopoly. Control by a single enterprise that is the only source of demand is a monopsony.