Competition law |
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Basic concepts |
Anti-competitive practices |
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Enforcement authorities and organizations |
Quantity | one | two | few |
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Sellers | Monopoly | Duopoly | Oligopoly |
Buyers | Monopsony | Duopsony | Oligopsony |
In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from.
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