An example of a bilateral monopoly would be when a union
A) bargains with a monopsony.
B) bargains with a monopoly.
C) bargains with many different employers.
D) deals directly with the final consumers.

Question

Quizplus · Accepted Answer

A bilateral monopoly occurs when a single seller (a monopoly) faces a single buyer (a monopsony), such as when a labor union (the sole supplier of a particular type of labor) negotiates with a single employer (the only buyer of that type of labor).

An Example of a Bilateral Monopoly Would Be When a Union