What Is Monopsony?

This is what economists call a monopsony, not monopoly, monopsony. This means that a given buyer has control over purchasing a product in a given area. Tom wainwright points out how there was this this weird thing that happens in bolivia. If you are like a 19 eighties movie producer in los angeles, the price at cocaine from your guy doesn't change. The difference between a regular year and a oh man, this cocoa plant is twice as expensive as it normally is is astoundingly not even a thing for the cartel,. Like there's no effect there. And here's why.