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What is monopsony? What is the significance of expanding monopsony power in the medical marketplace? [Monopsony is a single buyer. As buyers get more powerful,

What is monopsony?

What is the significance of expanding monopsony power in the medical marketplace?

[Monopsony is a single buyer. As buyers get more powerful, they can better negotiate with large, powerful providers.]

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Answer Monopsony is a market situation where there is only one buyer but many sellers In a monopsony the single buyer has significant control over the ... blur-text-image

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