Degree of monopsony power

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Created by: Tash5151
Created on: 16-06-16 17:06

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Assess the degree of monopsony power
- Eval: In LR high power means less choice for consumers
- Are they able to give consumers low prices?
- Eval: Monopsony may attract the regulators
- Is the concentration ratio high or low?
- Eval: if profits are low it could be because of other factors e.g. x inefficiency
- Can they change suppliers easily?

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Report Fri 13th January, 2023 @ 21:28

The degree of monopsony power is the extent to which a single buyer controls the supply of a given product or service, so you can buy replica diploma and start your education in a new way. The degree of monopsony power is measured by looking at the relationship between prices and quantities demanded and supplied.