Duopsony

In economics, a duopsony is a market structure in which only two buyers substantially control the market as the major purchasers of goods and services offered by many would-be sellers. The microeconomic theory of duopsony assumes two entities to have market power over all sellers as the only two purchasers of a good or service. This is a similar power to that of a Duopolist, which can influence the price for its buyers in a Duopoly, where multiple buyers have only two sellers of a good or service available to purchase from.^[1]