[ A ] Monopoly |
|
[ B ] Down right | |
[ C ] Double buyers right | |
[ D ] Single buyer right |
[ A ] Monopoly |
|
[ B ] Down right | |
[ C ] Double buyers right | |
[ D ] Single buyer right |
Answer : Option D |
Explanation : |
In economics, a monopsony (mono: single) is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, similar to a monopoly, in which only one seller faces many buyers. As the only purchaser of a good or service, the monopsonist may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers. It is also known as Single buyer Right. A singlepayer universal health care system, in which the government is the only'buyer' of health care services, is an example of a monopsony. Another possible monopsony could develop in the exchange between the food industry and farmers. |
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