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    Exam 29: Unions and Labor Market Monopoly Power
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    When There Is Only One Buyer in the Market
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When There Is Only One Buyer in the Market

Question 307

Question 307

Multiple Choice

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.

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