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A polyopsony is a market situation where there are multiple buyers (or purchasers) for a single supplier's goods or services, leading to a scenario where the supplier has limited negotiating power due to the presence of several competing buyers. This contrasts with a monopsony, where there is only one buyer in the market. Polyopsonies can affect pricing and supply dynamics, as buyers may collectively influence the terms and conditions of purchases from the supplier. This term is often used in economic discussions related to labor markets and procurement processes.
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