A monopsony
A)Is a market in which there is a only one buyer.
B)Is a market in which there is a single seller.
C)Occurs when sellers have declining long-run average costs.
D)Occurs when buyers have declining long-run average costs.

Question

Quizplus · Accepted Answer

Monopsony is a market structure where there is only one buyer and many sellers. This gives the buyer the power to dictate prices and terms of trade to the sellers.

A Monopsony