Definition of “bilateral monopoly” - English Dictionary

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“bilateral monopoly” in Business English

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bilateral monopolynoun [ C ]

plural bilateral monopolies ECONOMICS

a situation in which there is only one buyer and only one seller in a market:

In a bilateral monopoly, the one supplier will look to charge a high price, and the lone buyer will want to pay the lowest possible price.

(Definition of “bilateral monopoly” from the Cambridge Business English Dictionary © Cambridge University Press)