3 ms·

Thanks, you taught me a new concept, monopsony today, I didn't knew it got a name!

• darknavi 4mo ago
  > monopsony I had to look it up as well. I assumed it was a play on words about Microsoft, Nintendo, and Sony (the three big video game console players).
  • lesuorac 4mo ago
    For future people to look it up. Monopoly is a single seller. Monopsony is a single buyer.
    • lesuorac 4mo ago
      Given how popular this has gotten I guess I should point out that it's wrong. There isn't a single seller so the proper ones are Oligopoly - Market with few sellers Oligopsony - Market with few buyers "few" really meaning that they have pricing power as opposed to 3 companies.