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प्रश्न
Identify the market having a single buyer and many sellers from the following:
पर्याय
Monopoly
Monopsony
Perfect competition
Monopolistic competition
उत्तर
Monopsony
Explanation:
In a monopsony market system, there is only one buyer, and hence that buyer has tremendous power over demand. Because there are so many vendors, the buyer can obtain significant bargaining power and determine their terms.
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