/ˌbaɪˈlætərəl məˈnɒpəli/ – Phrase
Definition: độc quyền song phương (giữa người bán độc quyền và người mua độc quyền).
A more thorough explanation: Bilateral monopoly refers to a market situation in which there is only one buyer and one seller for a particular product or service. This can lead to a unique set of challenges and bargaining power dynamics between the buyer and seller, as both parties have significant influence over the terms of the transaction.
Example: In a bilateral monopoly situation, the company and the labor union engage in negotiations to reach an agreement on wages and working conditions.