The post office is a monopsony employer of postal workers.
Market with one buyer and and one seller is called bilateral monopsony
The answer to this question is "a monopsony". This is where one buyer faces many sellers.
Monopsony
OligopolyBuyers Sellers MarketMany 1 Monopoly" 2 Duopoly" 3+ Oligopoly1 Many Monopsony
in my eyes, monopsony do not have any advantages. for example, i am the ower of my website, which is the selling website. so, what i hope is the market is free and can control by ourself, not the monopsony company control the whole market, and we do not have any chance to do the business. this is just my own opinion.
The post office is a monopsony employer of postal workers.
Market with one buyer and and one seller is called bilateral monopsony
An example of monopsony in The Grapes of Wrath is when the large landowners in California have a near-monopoly on purchasing labor from the migrant workers. Through their power to control wages and working conditions due to their dominant position in the market, they are able to exploit the workers and pay them minimal wages.
The answer to this question is "a monopsony". This is where one buyer faces many sellers.
Monopsony
i need assumptions of monopsony ..................
Monopsony
Monopsony
Monopsony is a market structure where there is only one buyer in the market. This buyer has significant market power to set the price for goods or services, leading to lower prices for suppliers. Monopsonies can result in reduced competition, lower wages, and potential barriers to entry for new suppliers.
Frank A. Walsh has written: 'Monopsony power with variable effort'
Petroleum Company