FTP, name this market situation in which there is only one buyer.
A firm with this relationship to labor faces an upward-sloping supply curve for labor, which means that a minimum wage may increase employment, and the firm may reduce the quantity of labor it demands as a way to force down the equilibrium wage.  Examples include pro sports organizations and companies who set up company towns.  A bilateral monopoly exists when a monopoly exists on the selling side and one of these on the buying side.  FTP, name this market situation in which there is only one buyer.
A firm with this relationship to labor faces an upward-sloping supply curve for labor, which means that a minimum wage may increase employment, and the firm may reduce the quantity of labor it demands as a way to force down the equilibrium wage.  
monopsony