A)Who has more monopoly power---Wal-Mart or the concessionaire who has acquired the franchise to sell beer, hot dogs, colas, candy, etc., at a Washington Redskins football game? Explain.

B)Who has more monopsony power---Wal-Mart or teams in the National Football League (NFL) that are negotiating with players from college football teams that the teams just have drafted?

How do you measure power?

Definitions are as follows: so I would assume that you can "measure" the power by how much profit each obtain in setting their prices??

"Monopoly power" is the degree of power held by the seller to set the price for s specific good/product/service.

"Monopsony power" means there's an exitence of one buyer (or very few buyers) forcing sellers to accept a lower price.

A) To determine who has more monopoly power between Wal-Mart and the concessionaire at a Washington Redskins football game, we need to consider the extent of their market control. Monopoly power refers to a company's ability to control the market by being the dominant or sole provider of a particular product or service.

In this case, Wal-Mart is a multinational retail corporation with a vast presence in various markets. They have a large market share in the retail industry and can influence prices and product availability due to their extensive operations and distribution capabilities. Wal-Mart's market power is not limited to a specific event or location but stretches across multiple regions.

On the other hand, the concessionaire that has acquired the franchise to sell beer, hot dogs, colas, candy, etc., at a Washington Redskins football game has a limited scope of market control. Their monopoly power is confined to the specific event or venue where they operate the concession stands. While they may have exclusivity within the stadium during the games, their market power is limited to this specific context.

Considering these factors, it can be concluded that Wal-Mart has more monopoly power compared to the concessionaire at the Washington Redskins football game. Wal-Mart's extensive market presence and control across various regions give them a significant advantage in terms of market dominance and influence.

B) To determine who has more monopsony power between Wal-Mart and the teams in the NFL negotiating with drafted college football players, we need to understand the concept of monopsony power. Monopsony power refers to the market power of a single buyer in a market with multiple sellers.

In this scenario, the teams in the NFL are the buyers and the college football players are the sellers. They negotiate contracts for players' services and determine their salaries and terms. The NFL teams, being part of a professional sports league, have a unique position as the buyers of talent.

While Wal-Mart is a major player in the retail industry, their monopsony power is not as pronounced as that of the NFL teams. Each NFL team negotiates contracts individually with players, and their decisions collectively shape the market for player talent. The NFL operates under a salary cap system which sets a limit on the total amount teams can spend on player salaries, further concentrating monopsony power.

Considering these factors, it can be concluded that the teams in the NFL negotiating with drafted college football players have more monopsony power compared to Wal-Mart. The unique position and collective decision-making of the NFL teams in shaping the market for player talent give them a stronger bargaining position and control over player contracts.