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Question
Government of India purchased Raffle aircrafts from France in recent times.
Which one of the following market forms is applicable for this product in India?
Options
Monopsony
Monopoly
Oligopoly
Monopolistic Competition
MCQ
Solution
Monopsony
Explanation:
The Government of India is a single buyer and multiple nations produce aeroplanes, which are specialised products. As a result, India has a monopsony market
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Meaning of Monopsony
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