duopsony

noun
du·​op·​so·​ny | \ -psənē\
plural -es

Definition of duopsony

: a market situation in which two rival buyers hold the controlling power of determining the demand for a product or service from a large number of sellers — compare monopsony, oligopsony

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History and Etymology for duopsony

duo- + Greek opsōnia purchase of victuals, catering, from opsōnein to purchase victuals (from opson prepared food, relish) + -ia -y

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something desired as essential

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