When there is only one buyer in a market, there is a

Name: When there is only one buyer in a market, there is a
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

When there is only one buyer in a market, it is called a monopsony. In a monopsony, the buyer has significant market power to negotiate lower prices from suppliers due to their large share of demand in the market. This can lead to reduced profits for suppliers and lower quality products for consumers.

When There Is Only One Buyer in a Market, There