Monopsony
/ˈmɒnəpsəni/
Definitions
- (n.) A market condition in which there is only one buyer facing multiple sellers, often giving the buyer significant control over prices and terms.
The company's monopsony power allowed it to set lower wages in the local labor market.
Related terms
See also
Commentary
Monopsony is closely analyzed in antitrust and labor law contexts due to its impact on market competition and wage setting.
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