Monopsonistic competition
This is the current revision of Monopsonistic competition as edited by DavidB4-bot (talk | contribs) at 12:27, July 28, 2016. This URL is a permanent link to this version of this page.
In economics, monopsonistic competition describes a demand-side market structure characterized by a relatively large number of buyers with similar (though not identical) tastes.
The supply-side equivalent of monopsonistic competition is monopolistic competition, in which a market is dominated by a relatively large number of sellers who produce differentiated products. Firms who operate in a monopolistically competitive way in an output market tend to operate in a monopsonistically competitive way in input or factor markets.