Bilateral Monopoly Exists When

question 180

Multiple Choice

Bilateral monopoly exists when

• A) there is either a monopoly or a monopsony in the market.
• B) there are two competing labor unions in a labor market.
• C) there is a monopoly and a monopsony in a market.
• D) a firm is both a monopolist in its output market and a monopsonist in the input market.

---

Definitions:

Cash Collections

The process of receiving payments from customers for goods or services provided.

Sales Budget

A detailed projection of a company’s sales, in units and dollars, for a specific period, guiding production and marketing efforts.

Master Budget

A comprehensive financial plan for an organization that includes all of its revenue and expense accounts, combining them into a consolidated budget.

Budgeted Sales

Projected sales figures for a given period, often used for planning and forecasting purposes within a business.