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Question
Identify the market form for the item given below:
A single buyer
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Solution
The market form where there is a single buyer is called a monopsony.
RELATED QUESTIONS
Which two forms of market earn normal profit in the long run?
When products are differentiated on the basis of advertisements, brand names etc., it is called as ______.
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| Column I | Column II | ||
| A. | Demand curve under perfect competition | (i) | Indeterminate demand curve |
| B. | Demand curve under monopoly | (ii) | Downward sloping but less elastic |
| C. | Demand curve under monopolistic competition | (iii) | Horizontal straight line |
| D. | Demand curve under oligopoly | (iv) | Elastic demand curve |
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