Question

what is monopsony?
need one paragraph answer..


no spams​

Answer 1

Answer :

Monopspny

• A monopsony is either a market where only one buyer exists or where a single buyer dominates the market.

• We often refers to this type of market as a Buyer's Monopoly

• The term refers to just the numbers , not the number of suppliers .

• In this type of market there may be many suppliers.