A monopsony is a market with only one

Name: A monopsony is a market with only one
Brand: Quizplus
Rating: 4.7 (39 reviews)

Question

Quizplus · Accepted Answer

A monopsony is a market where there is only one buyer or employer, which means there is no competition in the market. The presence of no competition enables the monopsonist (the buyer or employer) to have bargaining power over suppliers of labor or goods. Therefore, both options A and B are correct. Option C is not correct as a product market with only one product is a monopoly market.

A Monopsony Is a Market with Only One