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Monopsony
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Monopsony
What is Monopsony power?
- A monopsony has buying or bargaining power within their market
- This buying power means that a monopsony can exploit their bargaining power with a supplier to negotiate lower prices.
- The reduced cost of purchasing inputs increases their profit margins
- Exists in both labour and product markets
- The reduced cost of purchasing inputs increases their profit margins
- This buying power means that a monopsony can exploit their bargaining power with a supplier to negotiate lower prices.
- A monopsony has buying or bargaining power within their market
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- Mind Map on Monopsony, created by Jordan Faulkner on 24/11/2016.
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- Jordan Faulkner
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