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monopsony
(redirected from Monopsonistic competition)

    Also found in: Financial, Encyclopedia, Wikipedia 0.01 sec.
mo·nop·so·ny  (m-nps-n)
n. pl. mo·nop·so·nies
A market situation in which the product or service of several sellers is sought by only one buyer.
[mon(o)- + Greek opsni, purchase of food; see duopsony.]
mo·nopso·nist n.
mo·nopso·nistic adj.
monopsony [məˈnɒpsənɪ]
n pl -nies
(Economics) a situation in which the entire market demand for a product or service consists of only one buyer
[mono- + Greek opsōnia purchase, from opsōnein to buy]
monopsonistic  adj
monopsony
the market condition that exists when only one buyer will purchase the products of a number of sellers. — monopsonist, n. — monopsonistic, adj.
See also: Trade
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.monopsony - (economics) a market in which goods or services are offered by several sellers but there is only one buyer
market, marketplace, market place - the world of commercial activity where goods and services are bought and sold; "without competition there would be no market"; "they were driven from the marketplace"
economic science, economics, political economy - the branch of social science that deals with the production and distribution and consumption of goods and services and their management
Translations
monopsony [məˈnɒpsənɪ] N → monopsonio m
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The labor market displays something closer to monopsonistic competition.
The Economics Behind Minimum Wage Laws, It's Just A Monopsonistic ... by Scott Schlimmer / Government community
Bhaskar and To (1999) develop a model of monopsonistic competition in the labor market based on what they call "horizontal job differentiation"--the idea that workers have different preferences among the nonwage characteristics of a job that enable any one of several firms competing for labor to lower its wage offer without losing all its workers.
Minimum Wages and the Card--Krueger Paradox by Shepherd, A. Ross / Southern Economic Journal
 
 
 
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