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Simple English definitions for legal terms

bilateral monopoly

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A quick definition of bilateral monopoly:

Bilateral monopoly is when there is only one buyer and one seller in a market. This can cause delays in making deals because both parties can hold out for a better deal without worrying about competition from other buyers or sellers. It's like a game of tug-of-war where both sides are evenly matched. This type of monopoly is hypothetical and not very common in real life.

A more thorough explanation:

Bilateral monopoly is a hypothetical market condition where there is only one buyer and one seller. This results in transactional delays because either party can hold out for a better deal without fearing that the other party will turn to a third party.

For example, if there is only one company that produces a certain product and only one company that buys it, then they are in a bilateral monopoly. The buyer can hold out for a lower price, and the seller can hold out for a higher price, causing delays in the transaction.

Another example of bilateral monopoly is in labor markets where there is only one employer and one union representing the workers. The employer can hold out for lower wages, and the union can hold out for higher wages, causing delays in reaching an agreement.

In both examples, the lack of competition leads to delays and inefficiencies in the market.

bilateral mistake | bilboes

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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