Monopsony

From Conservapedia

Jump to: navigation, search

A monopsony is a monopoly by a buyer rather than a seller. In other words, a monopsony is a market structure that has only one buyer of a good or service.

An example of a monopsony is Major League Baseball. Another example is a powerful union in a closed shop.

If a monopsony wishes to buy an additional good or service, then it must raise the price for all of the goods to that level, in order to buy the additional one.

Personal tools