User:MiloKing/Monopsony: Difference between revisions
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A '''monopsony''' is a type of market where there is one buyer and many sellers who compete (in [[Perfect competition|perfect competition) to serve that buyer. A market can be an '''oligopsony''' if there are relatively few buyers and many sellers who compete to serve them. | A '''monopsony''' is a type of market where there is one buyer and many sellers who compete (in [[Perfect competition|perfect competition]]) to serve that buyer. A market can be an '''oligopsony''' if there are relatively few buyers and many sellers who compete to serve them. | ||
Revision as of 15:27, 30 June 2016
A monopsony is a type of market where there is one buyer and many sellers who compete (in perfect competition) to serve that buyer. A market can be an oligopsony if there are relatively few buyers and many sellers who compete to serve them.