noun (plural monopsonies)
a market situation in which there is only one buyer.
1930s: from mono- 'one' + Greek opsōnein 'buy provisions' + -y
Ezra Gregg and DC Central Kitchen on Flickr♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔♔
The auction was an odd affair. Though he was incognito, everyone recognized Edward, the king. Instead of the usual raucous bidding, there was a tepid and brief early interest in any item. If the king bid, silence clamped down instantly. On those items it was clear there was only one buyer, a regal monopsony
. The day was saved for the sellers, however, when the Archbishop arrived. At least the crowd then got the chance to watch a lively duopsony
In more recent times, popular music has frequently recalled the memorable auction. You all must know of the rhythm and blues style known as doo-wop. Sony
Records has several examples you can buy.
Words are a game. Sometimes I play alone, but you are welcome to play, too.