Monopoly and Monopsony
{"Image DocumentName": "Monopoly and Monopsony", "Image ImageDescription": "Monopsony is easier to understand if we compare to monopoly. We can see this graphically. Monopolist. Can charge price above MC because faces downward sloping demand (average revenue) MR < AR. MR=MC gives quantity less than competitive market and price that is higher.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}