Question

why monopsony is not studied as frequently as monopoly​

Answer 1

Answer:

Both a monopoly and a monopsony refer to a single entity influencing and distorting a free market. In a monopoly, a single seller controls or dominates the supply of goods and services. In a monopsony, a single buyer controls or dominates the demand for goods and services.

Answer 2

Answer:

Both firms set prices at which they can sell or purchase the profit-maximizing quantity. The monopoly sets its product price based on the demand curve it faces; the monopsony sets its factor price based on the factor supply curve it faces.