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Oligopsony |
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Oligopsony (Greek, ‘few buyers’) is a market in which there are so few buyers that they are highly interdependent: each must take into account the reactions of the others when contemplating a change. For example, if one firm offers to purchase at a higher price, it must recognize that the other purchasers will be affected so significantly that they may offer more rather than hold their purchase-price offers constant. TF
See also oligopoly. |
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| Other Terms : Contrastive Analysis | Industrial society | Revisionism |
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