A monopsony is the same thing as a monopoly.

Name: A monopsony is the same thing as a monopoly.
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A monopsony is a market condition where there is only one buyer or there are very few buyers with a dominant market share, whereas a monopoly is a market condition where there is only one seller or there are very few sellers with a dominant market share. They are two different concepts related to market power.

A Monopsony Is the Same Thing as a Monopoly