Tuesday 22 January 2013

Monopsonies and Monopolies

Monopsony;
http://en.wikipedia.org/wiki/Monopsony

Monopoly;
http://en.wikipedia.org/wiki/Monopoly

Monopsony = HMG
Monopoly = Providers of the product.

the existence of the relationship beholds both parties to understand why it exists and what efficiencies it generates.

to meddle with it creates more inefficiency at potentially greater cost [instant or over time as its consequences manifest].

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