Question

    In which of the following satisfies the conditions for a

    monopsonistic market?
    A Single seller and infinite buyer Correct Answer Incorrect Answer
    B Few buyers and a single seller Correct Answer Incorrect Answer
    C Infinite buyers and sellers Correct Answer Incorrect Answer
    D Single buyer and infinite seller Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Monopsony : A monopsony occurs when a fi rm has market power in employing factors of production (e.g. labor).

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