A monopsony is a market with: a

Marketing Dec 24, 2020

A monopsony is a market with:

a. Many sellers

b. One buyer

c. Many buyers

d. One seller

Expert Solution

The correct answer is b. One buyer.

This is in fact the total opposite of a monopoly. An example of a monopsony is the market for farm produce in a communist economy (i.e. all produce is purchased by the government and then redistributed).

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