Some economists refer to a monopsony as a
A)factor price taker.
B)factor buyer.
C)buyer's monopoly.
D)single-price monopolist.
E)Economists don't refer to a monopsony as anything other than a monopsony.

Question

Quizplus · Accepted Answer

A monopsony is referred to as a buyer's monopoly because it is a market condition where there is only one buyer for a product or service, giving that buyer significant power over prices and terms.

Some Economists Refer to a Monopsony as a