A market that experiences both strikes and lockouts at different times is most likely characterized by

Question

Quizplus · Accepted Answer

A bilateral monopoly occurs when there is only one buyer (monopsony) and one seller (monopoly) in a market. In such a market, negotiations between the two parties can result in strikes by workers (bargaining for better wages and working conditions) and lockouts by employers (attempting to pressure workers into accepting their terms). Therefore, a market that experiences both strikes and lockouts at different times is most likely characterized by a bilateral monopoly.

A Market That Experiences Both Strikes and Lockouts at Different