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Alexxandr [17]
3 years ago
8

In which of the following market structures is a firm the single buyer of labor in its related market? Monopoly Perfect competit

ion Monopsony Oligopoly Unregulated natural monopoly
Business
1 answer:
castortr0y [4]3 years ago
4 0

Answer:

MONOPSONY

Explanation:

Monopsony is a labour market form where a firm is a singe buyer of a kind of labour services. Eg : Primary or only supplier of a kind of job in an area. These are at a priviliged position - wage setting power, more bargaining power with labourers (for wages , employment terms & conditions).

Monopoly is a commodity market structure where firm is the only seller of that good/service, with no close substitutes. Eg - Indian Railways. Perfect Competition is a also a commodity market structure with many buyers & sellers selling homogeneous products at uniform prices.

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