Which of the following type of firm is not a price taker in the market in which the firm buys its inputs?

Question

Quizplus · Accepted Answer

A monopsony is a market structure where there is only one buyer for a particular product or service. This gives the monopsonist buyer some market power and the ability to influence the price of the goods they are purchasing from suppliers. Therefore, they are not a price taker in the market where they buy their inputs. In contrast, in perfect competition, oligopoly, and monopoly markets, firms are either price takers or have significant market power allowing them to set prices.

Which of the Following Type of Firm Is Not a Price