a) Characteristics

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5 Terms

1
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  • the buyers in a monopsony market are…


  • firms


2
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  • the sellers in a monopsony market are…


  • suppliers


3
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  • the characteristics of a monopsony market


  • one buyer and many sellers

  • buyers are price makers

  • high barriers to entry/exit


4
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  • high barriers to entry and exit in a monopsony market are caused by…


  • exclusive contracts

  • geographical isolation

  • a public sector market


5
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  • n/a


  • n/a