Discussion
A monopsony is a market with
Answer: A
A monopsony is a market in which there is a single buyer of a good or a factor, for example the only employer of a type of labour in a town. A monopoly is the opposite, with one seller, and an oligopsony has a few buyers, while an oligopoly has a few sellers. The prefix 'mono' means one and the suffix 'opsony' refers to buying. The answer is one buyer, option A. The word comes from the Greek for one buyer, in the way that monopoly comes from one seller.
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