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What are the characteristics of a monopsonist?

What are the characteristics of a monopsonist?

Asked by: 645 days ago - 4 Answers - 2150 views

4 Answers

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    This is a situation where the entire demand of a product or service is based on the need of one buyer. Obviously, it’s great to be the buyer in this situation since you can pitch sellers against each other. On the other hand, it’s terrible to be a seller in a monopsonist market because you are at the mercy of the buyer.

    Answer by pinyo 645 days ago


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    Characteristics of Monopolist are:

    Single seller in the market,

    The price maker,

    Bearing whole risk alone,

    Control of demand and supply; etc.

     

    Answer by Zubair Ahmed 645 days ago


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      the question was about monopsony not about monopoly.  at all thank you .

      Answer by hameed 644 days ago


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    Sorry i have misread that.

    Answer by Zubair Ahmed 644 days ago


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