What market situation exists where there are few sellers and few buyers? A. Oligopoly B. Oligopsony C. Bilateral Oligopoly D. Bilateral Oligopsony

Oligopoly
Oligopsony
Bilateral Oligopoly
Bilateral Oligopsony

The correct answer is: A. Oligopoly.

An oligopoly is a market structure in which a small number of large sellers dominate the market. This means that each seller has a significant amount of market power, and can therefore influence the price of their products. Oligopolies can be formed in a number of ways, including through mergers and acquisitions, collusion, or simply because there are only a limited number of firms that can compete in a particular market.

Oligopolies can have a number of negative effects on the economy. They can lead to higher prices, lower quality products, and less innovation. They can also make it difficult for new firms to enter the market.

Bilateral oligopoly is a market structure in which there are a small number of buyers and a small number of sellers. This type of market structure is often found in industries where there are a few large buyers and a few large sellers. Bilateral oligopolies can be difficult to manage, as both buyers and sellers have a significant amount of market power.

Oligopsony is a market structure in which there are a small number of buyers and a large number of sellers. This type of market structure is often found in industries where there are a few large buyers and a large number of small sellers. Oligopsonies can be difficult to manage, as buyers have a significant amount of market power and can therefore influence the prices that they pay.

D. Bilateral oligopsonies are a market structure in which there are a small number of buyers and a small number of sellers. This type of market structure is often found in industries where there are a few large buyers and a few large sellers. Bilateral oligopsonies can be difficult to manage, as both buyers and sellers have a significant amount of market power.

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