Monopsony

There is a market condition known as monopsony where there is only one buyer of a good or service.

In the case of markets with monopsony, the seller has no choice but to accept any and all offers that are made to them.

This can lead to decreased quality and increased prices for goods and services.

This can be a particularly harmful condition for consumers, as it can result in lower quality goods or services available at a cheaper price.

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