Monopsony power refers to the market power on the buy side of the market, where there is only one buyer for many sellers. This is different from monopoly power, which is market power on the sell side, where there is only one seller for many buyers. Therefore, none of the provided choices accurately describe monopsony power.

Solved

Monopsony Power Is

Question 393

Multiple Choice

Monopsony power is:

A) the same thing as monopoly power
B) market power on the sell side of the market
C) colloquially called a "seller's monopoly power"
D) colloquially called a "distributor's monopoly power"
E) none of the other choices are correct

Correct Answer: