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    Question

    Market with one buyer and one seller is called

    A Monopoly Correct Answer Incorrect Answer
    B Monopsony Correct Answer Incorrect Answer
    C Duopoly Correct Answer Incorrect Answer
    D Bilateral monopoly Correct Answer Incorrect Answer

    Solution

    Bilateral monopoly is a market structure where there is only one buyer (monopsony) and one seller of a product (monopoly)

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