Difference between revisions of "Monopsony"
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| − | 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. | + | 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. |
| − | 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. | + | 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. |
[[category:economics]] | [[category:economics]] | ||
Revision as of 04:19, October 9, 2007
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.
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.
