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प्रश्न
Which statement correctly describes monopsony?
पर्याय
Many buyers and many sellers with homogeneous product
Two dominant sellers closely watching each other
Single buyer and many sellers in a factor market
Single seller and many buyers with no close substitutes
MCQ
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उत्तर
Single buyer and many sellers in a factor market
Explanation:
Monopsony is a market with one powerful buyer and many sellers, often seen in labour or input markets where the buyer can influence the price it pays.
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