In a monopoly, there is one _____; in a monopsony, there is one _____.
A)unit of product; price
B)price; unit of product
C)seller; buyer
D)buyer; seller

Question

Quizplus · Accepted Answer

In a monopoly, there is only one seller who has control over the market, while in a monopsony, there is only one buyer who has control over the market. Therefore, the correct options are seller for monopoly and buyer for monopsony.

In a Monopoly, There Is One _____; in a Monopsony