A Market in Which There Is a Single Buyer of a Good

question 97

Multiple Choice

A market in which there is a single buyer of a good, service, or factor of production is called a:

• A) monopoly.
• B) factor monopoly.
• C) monopsony.
• D) monopolistic factor market.

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Definitions:

Knowledgeable

Having or showing a solid understanding and awareness of a wide range of information on a particular subject or subjects.

Office Hours

Designated times set by educators during which they are available to meet with students to discuss course material or concerns.

Adjunct

An additional or auxiliary component, often referring to part-time or temporary positions, especially in teaching roles.

Letter of Recommendation

A letter written by a person who knows the job or academic candidate and can vouch for their abilities and character.