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Oligopolies and Oligopsonies This article is about the trend of oligopolies and how that creates oligopsonies We already defined in oligopoly in class as an industry where there are few producers An oligopsony is the term used when there are only a few buyers for that oligopoly One example is the limited number of national book chains Since there are three major book chains namely Barnes and Noble Borders and Amazon it seems that if a book does not do well in one of those store then it is not considered a successful book I cannot help but think of bookstore like Waldens or some of the smaller chains that do not seem to make a difference because they just are not big enough to make a dent in the numbers The example in the article that best helped me understand how an oligopsony works was the McDonalds example It stated that the biggest buyer of potatoes in the world is McDonalds and some other well-known fast food restaurants These buyers use an intermediary The top three fast food restaurants determine the over all demand they price theyll be willing to pay and the time of delivery The article goes one to state that the best way to counter and oligopsony is with an oligopoly Large producers can to some extent stand up to the larger chains selling the products while smaller producers are at their mercy So really oligopsonies are just oligopolies to the oligopolies that serve the consumer That was a mouthful The article begins talking about how even though we like to think of the American market as a free democracy it is in reality an oligopoly Then the internet appeared and was supposed to revolutionize all that However with Amazon and Toys R us merging and other large merges and buyouts the internet is becoming over run by the powers that be The oligopolyoligopsony partnership seems to be affecting
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