Question

2. A situation where there is only one buyer is called A. Monopoly B. Oligopoly C. Monopsony D. Perfect competition​

Answer 1

Monopsony is a situation where there is only one buyer.

Answer 2

Answer:

A monopsony is a market condition in which there is only one buyer, the monopsonist. Like a monopoly, a monopsony also has imperfect market conditions.

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