SkipCaptcha, Automoderated users, edit
8,843
edits
Changes
Jump to navigation
Jump to search
mLine 1:
Line 1: − An example of a monopsony is Major League Baseball. Another example is a powerful union in a [[closed shop]].+ + +
no edit summary
A '''monopsony''' is a monopoly by a buyer rather than a seller. In other words, a monopsony is a market structure that has only one buyer of a [[good]] or service.
A '''monopsony''' is a monopoly by a buyer rather than a seller. In other words, a monopsony is a market structure that has only one buyer of a [[good]] or service.
Examples of monopsonies include:
*the four major professional sports leagues ([[Major League Baseball]], [[NFL]], [[NBA]], and [[NHL]])
*the [[Department of War]] (for many military items; even when allies are allowed to buy items, DoW controls who can and at what levels)
If a monopsony wishes to buy an additional [[good]] or service, then it must raise the price for all of the goods to that level, in order to buy the additional one.
If a monopsony wishes to buy an additional [[good]] or service, then it must raise the price for all of the goods to that level, in order to buy the additional one.