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A market situation where there is only one buyer in the marketplace is called:
A market situation where there is only one buyer in the marketplace is called:
A . Perfect competition
B . Oligopoly
C . Monopoly
D . Monopsony
Answer: D
Explanation:
A market with only one buyer is called a ‘monopsony’.
There may be other questions in this test about the other terms shown, so I shall hold back on expla-nation(s) here.
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