Which of the Following Correctly Describes a Monopsony

question 54

Multiple Choice

Which of the following correctly describes a monopsony?

• A)A monopsony firm is the sole supplier of an input.
• B)In a monopsony market,two or more firms set output assuming the other's output is constant.
• C)A monopsony firm is the sole buyer in an input market.
• D)In a monopsony market,a group of firms collude to set prices.

---

Definitions:

Graphical Formats

The use of visual elements, such as charts, graphs, and images, to present data or information in a clear and easily understandable manner.

Network Diagram

A visual representation of a network's components, including nodes and connections, used to illustrate the structure and relationships within the network.

Solicited Proposal

A proposal requested by a party, typically for a project or service, following specific guidelines provided by the requesting party.

Single Writer

A writing approach where only one individual is responsible for creating the content, offering a unified voice and perspective.