Multiple Choice
Which of the following correctly describes a monopsony?
A) A monopsony firm is the sole supplier of an input.
B) In a monopsony market,two or more firms set output assuming the other's output is constant.
C) A monopsony firm is the sole buyer in an input market.
D) In a monopsony market,a group of firms collude to set prices.
Correct Answer:
Verified
Correct Answer:
Verified
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