3.4 Monopsony and contestability

Spec: what students need to learn

• Characteristics and conditions for a monopsony to operate
• Costs and benefits to firms, consumers, employees and suppliers

Full notes coming soon.

Spec: what students need to learn

• Characteristics of contestable markets
• Implications for the behaviour of firms
• Types of barrier to entry and exit
• Sunk costs and the degree of contestability

Full notes coming soon.

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