MONOPSONY

monopsony (m[schwa]-nop-s[schwa]-nee), n. A market situation in which one buyer controls the market. — monopsonistic, adj. “Monopsony is often thought of as the flip side of monopoly. A monopolist is a seller with no rivals; a monopsonist is a buyer with no rivals. A monopolist has power over price exercised by limiting output. A monopsonist […]