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Paperback Monopsony in Law and Economics Book

ISBN: 0521746086

ISBN13: 9780521746083

Monopsony in Law and Economics

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Format: Paperback

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Book Overview

Most readers are familiar with the concept of a monopoly. A monopolist is the only seller of a good or service for which there are not good substitutes. Economists and policy makers are concerned about monopolies because they lead to higher prices and lower output. The topic of this book is monopsony, the economic condition in which there is one buyer of a good or service. It is a common misunderstanding that if monopolists raise prices, then monopsonists...

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