Bilateral monopoly refers to the market situation of
A. two sellers
B. two buyers
C. one seller and two buyers
D. None of the above
Answer: Option D
Solution (By Examveda Team)
Bilateral monopoly refers to a market situation where there is one seller and one buyer. It occurs when a single supplier (a monopolist) faces a single buyer (a monopsonist). In such a case, both the seller and buyer have significant market power, leading to negotiations or bargaining to determine the price and quantity exchanged.Join The Discussion
Comments (1)
The capital that is consumed by an economy or a firm in the production process is known as
A. Capital loss
B. Production cost
C. Dead-weight loss
D. Depreciation
Who propounded the opportunity cost theory of international trade?
A. Ricardo
B. Marshall
C. Heckscher & Ohlin
D. Haberler
Which among the following statement is INCORRECT?
A. On a linear demand curve, all the five forms of elasticity can be depicted
B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.
C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.
D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.
A. Increase
B. Decrease
C. Remain the same
D. Become zero
Only one supplier and only one buyer