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Consider a market with a monopsony buyer (such as, for example, a market in which companies produce inputs to production for a monopoly producer). In such a market, the monopsony buyer has control over prices and quantities (much like a monopolist does). Please make a model that explains the decision faced by the monopsonist, and describe how it is similar to the decision faced by a monopolist.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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