Minnesota Fair Competition Act regulates monopsony power, prohibits price increases and discrimination, and establishes enforcement and penalties.

The Minnesota Fair Competition Act establishes regulations on monopsony power, prohibiting certain price increases and price discrimination. It defines monopsony as a market condition where only one buyer exists. The Act prohibits selling goods or services at unconscionably excessive prices, defined as more than ten percent above the average price. It also bans price discrimination between different purchasers of similar goods or services. Enforcement is provided through the attorney general, who can investigate and bring actions to remediate violations.

Minnesota Fair Competition Act regulates monopsony power, prohibits price increases and discrimination, and establishes enforcement and penalties.

The Minnesota Fair Competition Act establishes regulations on monopsony power, prohibiting certain price increases and price discrimination. It defines monopsony as a market condition where only one buyer exists. The Act prohibits selling goods or services at unconscionably excessive prices, defined as more than ten percent above the average price. It also bans price discrimination between different purchasers of similar goods or services. Enforcement is provided through the attorney general, who can investigate and bring actions to remediate violations.