| 单词 | bilateral monopoly |
| 释义 | bilateral monopoly A market situation with a single buyer, or monopsonist, facing a single seller, or 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, each of whom can of course identify the other. See also: monopsony |
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