Which of the following statements is correct?
A) The term "monopoly" refers to either a market with one buyer or to a market with one seller.
B) The term "monopoly" refers to a market with one buyer, while the term "monopsony" refers to a market with one seller.
C) The term "monopsony" refers to a market with one buyer, while the term "monopoly" refers to a market with one seller.
D) The term "monopsony" refers to a market with either one buyer or one seller.
Correct Answer:
Verified
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