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What is Monopsony and its examples ?

Definition of Monopsony

Information on definition of monopsony and its examples is given below. Monopsony is a market condition in which a single buyer substantially controls the market as a major purchaser of services or goods offered by many sellers in the market. Monopsony is one of the important concept in economics but it has both advantages and disadvantages in the over all market structures. Monopsony also has imperfect market condition.

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