If There Is Only a Single Buyer in the Labour

question 47

Multiple Choice

If there is only a single buyer in the labour market, that buyer is called

• A) a single- product firm.
• B) a monopsonist.
• C) a monopolist.
• D) an oligopsonist.
• E) an oligopolist.

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Definitions:

Shareholders

Individuals or entities that own share(s) in a corporation, granting them certain rights like receiving dividends and voting at shareholders' meetings.

Hostile Takeover

An acquisition attempt by a company or individual to obtain control of another company against the wishes of the target company's management and board of directors.

Duty Of Loyalty

A fiduciary responsibility that requires individuals to act in the best interest of another party, such as a corporation or its shareholders.

Duty Of Care

An obligation to take reasonable care to avoid causing harm to another person.