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Market with one buyer and one seller is called

Question

Market with one buyer and one seller is called

A Monopoly Correct Answer Incorrect Answer

B Monopsony Correct Answer Incorrect Answer

C Duopoly Correct Answer Incorrect Answer

D Bilateral monopoly Correct Answer Incorrect Answer

Solution

Bilateral monopoly is a market structure where there is only one buyer (monopsony) and one seller of a product (monopoly)

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