Which of the following examples comes the closest to describing a monopsony market?

Question

Quizplus · Accepted Answer

A monopsony market is characterized by a single buyer facing many sellers, giving the buyer significant market power to influence prices and lower them. In this case, the United States military is the sole buyer of military uniforms, giving it significant market power over suppliers. A monopsony market exists when there is only one buyer in a market. In this case, the market for United States military uniforms fits this description as the government is the sole buyer of these uniforms.

Which of the Following Examples Comes the Closest to Describing