What is a monopsonist and how soes it differ from a monopolist?

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What is a monopsonist and how soes it differ from a monopolist?

2006-11-01 04:13:00 · 2 answers · asked by Jennifer 1 in Social Science ➔ Economics

2 answers

A monopsonist is the sole consumer (for example, the only consumer of nuclear submarines in the U.S. is the U.S. Navy). A monopolist is the sole producer.

2006-11-01 04:54:42 · answer #1 · answered by NC 7 · 0⤊ 0⤋

A Monopoly is where there is only one producer or company.

A Monopsony is where there is only one consumer or buyer.

2006-11-01 04:51:50 · answer #2 · answered by Just Wondering 3 · 1⤊ 0⤋