When there is only one buyer in the market
A) a closed shop exists.
B) a monopsony exists.
C) then the market will be perfectly competitive.
D) the supply curve for the good will be perfectly elastic.
Correct Answer:
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Q255: A monopsonist that wants to hire more
Q256: Bilateral monopoly exists when
A) a single buyer
Q257: The monopsonist will employ labor to the
Q258: Q259: A monopsonist is Q261: In a monopsonistic market Q262: Under monopsony, marginal factor cost is Q263: Monopsonistic exploitation is Q264: When there is only one buyer in Q265: The marginal factor cost of a monopsonist
A) a firm with monopoly
A) employment is lower
A) equal
A) measured by the area
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