A Monopsony

question 75

Multiple Choice

A monopsony

• A) Is a market in which there is a single buyer.
• B) Is a market in which there is a single seller.
• C) Occurs when sellers have declining long-run average costs.
• D) Occurs when buyers have declining long-run average costs.

---

Definitions:

Fatty Acid

Organic compound that consists of an acidic carboxyl group “head” and a long hydrocarbon “tail.” Can be saturated or unsaturated.

Hydrophilic

Describes a substance that dissolves easily in water.

Carboxyl Group

A functional group consisting of a carbon atom double-bonded to an oxygen atom and single-bonded to a hydroxyl group (-COOH), found in organic acids.

Role

The function or position that an entity typically occupies or is expected to occupy within a particular context or system.