A market in which there is a single buyer of a good, service, or factor of production is a(n):

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A monopsony is a market situation where there is only one buyer of a particular product, service, or factor of production. This gives the buyer a certain degree of market power that allows them to pay lower prices and negotiate favorable terms with the sellers. Therefore, a monopsony is the best description of a market in which there is a single buyer. Options A, B, and C refer to situations where there is a single seller or a small number of sellers, which is not the case in a monopsony.

A Market in Which There Is a Single Buyer of a Good