A Market Structure in Which There Is Only One Buyer

question 134

Multiple Choice

A market structure in which there is only one buyer is

• A) a monopoly.
• B) a monopsony.
• C) an oligopoly.
• D) a competitive market.

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Definitions:

Private Good

A good, such as pizza, that is both rival in consumption and exclusive.

Regressive Tax

A tax system in which the tax rate decreases as the taxable amount increases, placing a larger burden on low-income earners.

Proportional Tax

A tax system in which the tax rate stays the same, no matter the taxable amount.

Progressive Tax

A tax system where the tax rate increases as the taxable amount or income increases, placing a higher relative burden on wealthier individuals.