An oligopsony exists if
A)Only a few firms produce most of the industry's output.
B)Only a few firms account for most of the industry's employment.
C)Only one firm accounts for most of the industry's employment.
D)There is no buyer concentration in the labor market.

Question

Quizplus · Accepted Answer

An oligopsony is a market condition where a small number of buyers exert control over the market, often seen in labor markets where a few firms dominate employment.

An Oligopsony Exists If