Jun 22, 14 •
159 Views •
Businesses, Demand, Supply, and Markets, Economic Debates, Economic History, Entertainment, Financial Markets, Households, Labor, Lifestyle, Media, Regulation •
Elaine Schwartz •
No, we don’t mean monopoly. A monopoly is the single seller in a large or small geographic area. Monopsony, by contrast, indicates there is a single buyer. Where are we going? Whereas a monopoly has the power to charge too high a price, the amount
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