Overview

bilateral monopoly


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A market situation with a single buyer (a monopsonist) facing a single seller (a monopolist). This could arise where a single supplier firm faces a single government purchaser, for example the Ministry of Defence, or where a single trade union faces a single employer, for example a nationalized industry. Under bilateral monopoly, price and quantity are decided by bargaining between the two parties.

Subjects: Business and Management — Economics.


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