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մոնոպսոնիա
A market dominated by a single buyer. A monopsonist has the market power to set the price of whatever it is buying (from raw materials to labor). Under perfect competition, by contrast, no individual buyer is big enough to affect the market price of anything.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Economy
- Category: Economics
- Company: The Economist
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