A marketplace state of affairs wherein there's only one customer with many sellers of a particular product is called: monopsony.
Monopsony, in economic theory, marketplace state of affairs wherein there's most effective one consumer. An example of a pure monopsony is a company this is the only customer of labor in a remoted city. the sort of firm is capable of pay decrease wages than it'd beneath the competition.
The traditional instance of a monopsony is an employer coal town, in which the coal company acts as the sole corporation and therefore the sole consumer of hard work within the town. Now, why ought we care approximately this? The monopsony energy of the coal agency allows it to set wages underneath the productiveness of its workers.
In economics jargon, Amazon isn't, as a minimum to this point, performing like a monopolist, a dominant dealer with the energy to raise fees. as a substitute, it's far performing as a monopsonist, a dominant buyer with the strength to push charges down.
Learn more about monopsony here: https://brainly.com/question/24877850
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