The Market in Which There Is Only One Buyer of an Input

question 13

Multiple Choice

The market in which there is only one buyer of an input and one seller of the input is called a

• A)double monopsony.
• B)double monopoly.
• C)biopoly.
• D)bilateral monopsony.
• E)bilateral monopoly.

---

Definitions:

Collective Behavior

Actions or reactions of a group of people in situations where conventional norms and laws are perceived as less applicable, often spontaneously arising.

Conformity

The act of matching attitudes, beliefs, and behaviors to what is considered normal in a given social group or society.

Intergroup Dynamics

The study of how different groups interact, compete, and cooperate with each other.

Deindividuated

A psychological state where an individual loses self-awareness and feels less responsible for their actions, often in group settings.