Advertisements
Advertisements
Question
Which among the following is a feature of monopsony market?
Options
Price discrimination
Single buyer
Single seller
Price taker
Advertisements
Solution
Single buyer
Explanation:
A monopsony market is defined by a single buyer who controls the market. Due to a lack of competition from other buyers, this single buyer has tremendous power over the purchase prices and conditions.
APPEARS IN
RELATED QUESTIONS
Discuss any two features of a monopolistically competitive market.
Read the following statements carefully and choose the correct alternative:
Assertion (A): Under Perfect Competition, each firm faces a perfectly elastic demand curve.
Reason (R): Firm is a price maker under perfect competition.
Mention two features of monopoly.
Highlight the importance of selling costs in a monopolistically compatible market.
State the market form of the following commodity.
Fighter Aircrafts
Identify the market form for the item given below:
A single buyer
Explain the main characteristics of a monopoly.
What do you mean by homogeneous products?
Why an individual firm under perfect competition cannot influence the market price?
In which type of market are firms interdependent and a few large firms dominate?
