Monopsony Note-taking Homework

As requested by Stephen, here are the questions, which need to be answered by period 3 tomorrow:

•Explain how supermarkets can assert monopsony power over suppliers of milk and meat

•To what extent will a voluntary code of practice reduce excessive buyer power in the grocery market?

•Examine the reasons why local authorities are able to operate as a monopsony in the care home market

•For both cases, analyse how monopsony power works against the interests of the suppliers and final consumers