When a factor market has only one demander of labor, the market is labeled a (n)(A) Natural mpnopoly(B) Labor union(C) Competitive market(D) Monopsony(E) Oligopoly

In economics, a monopsony is a market structure in which a single buyer substantially controls the…

Answered: When a factor market has only one…

When a factor market has only one demander of labor, the market is labeled a (n) (A) Natural monopoly (B) Labor union (C) Competitive market (D) Monopsony (E) Oligopoly

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter26: Factor Markets: With Emphasis On The Labor Market

Section: Chapter Questions

Problem 12QP

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Question

When a factor market has only one demander of labor, the market is labeled a (n)
(A) Natural mpnopoly
(B) Labor union
(C) Competitive market
(D) Monopsony
(E) Oligopoly

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