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Posted 3 months ago

Which of the following describes a monopsony market?

Choose 1 answer:
(A) many buyers and many sellers
(B) one seller, many buyers
(C) one buyer and many sellers
(D) a few buyers, a few sellers
(E) A few buyers, many sellers
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Answer from Sia
Posted 3 months ago
Definition of Monopsony: A monopsony market structure is characterized by a single buyer and multiple sellers
(C) one buyer and many sellers
Key Concept
Monopsony Market Structure
In a monopsony, there is only one buyer who has significant market power over the price due to the lack of competition among buyers.

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