A market in which there is only a single seller and a single buyer is a:
A. perfectly competitive market.
B. monopoly.
C. monopsony.
D. bilateral monopoly.
Answer: D
Economics
You might also like to view...
Refer to Figure 7-1. The efficient equilibrium quantity is ________ thousand vaccinations
A) 100 B) 200 C) 300 D) >300
Economics
If the average total cost of producing 2 pounds of cheese is $4 and the average total cost of producing 3 pounds of cheese is $4.2, then the marginal cost of producing third pound of cheese is equal to:
a. $4.2. b. $8. c. $4.5. d. $4.6. e. $4.1.
Economics