A market structure in which there is only one buyer is
A) a monopoly.
B) a monopsony.
C) an oligopoly.
D) a competitive market.
B
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Explain why a monopoly or a perfectly competitive firm does not consider a rival firm's behavior, but an oligopoly and a monopolistically competitive firm do
What will be an ideal response?
Brandon finds that Max Solutions can supply computers with the specific configuration he needs. His company enters into a contract with Max Solutions to provide 60 custom-built desktops at an agreed price. The contract between them will ensure each of the following, EXCEPT:
a. that Brandon's company does not back out and make a deal with someone else for a lower price. b. Max Solutions does not sell the computers to another company for a higher price. c. Max Solutions supplies the computers before the scheduled date of delivery. d. Brandon's company compensates Max Solutions in case of cancellation of order at a later date.
Suppose you are viewing a graph of the total revenue generated from the sale of bananas. On the horizontal axis, the numbers indicate the quantity of bananas. On the vertical axis the numbers indicate total revenue. The slope of the line represents
a. b and e b. marginal revenue c. average variable costs d. total revenue e. price
The price index was 92 in 2014, and the inflation rate was 8.7 percent between 2013 and 2014 . The price index in 2013 was
a. 100.0. b. 100.7. c. 83.3. d. 84.6.