0 a situation in a market in which there is only one buyer for goods or services offered by several sellers:
1 a buyer who is the only one in a market in which the goods or services are offered by several sellers:
However, if monopsony were the answer, low costs would only be possible at lower output (and lower demand for inputs) than expected in competitive markets.
A fourth factor causing a tension between the demand and supply sides of the labour market can be called the monopsony problem.
They may be due to union monopsonies or to insider/outsider relations or to any other realistic cause.
However, this was restricted only to relatively profitable cash crops (chiefly cotton and paprika) for which firms could enforce a purchasing monopsony.
Some monopsonies will take advantage of their power by paying below what the competitive wage would otherwise be.
First, there may be evidence of a monopsony market for land in the district.
These are just examples and the idea of monopsony power is broader and applies in other cases where search costs are high.
The only result of the ending of monopsony powers will be to force up prices.
