Question : Bilateral monopoly refers to the market situation of
Option 1: Two sellers , two buyers
Option 2: One seller , two buyers .
Option 3: Two sellers and one buyer .
Option 4: One seller and one buyer.
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Correct Answer: One seller and one buyer.
Solution : The correct option is One seller and one buyer.
A market condition known as a bilateral monopoly is one in which there is only one buyer and one seller. The terms of the trade (pricing, quantity, etc.) are discussed between the buyer and seller in this case because both parties have significant negotiating power. In contrast to more typical market systems, which involve several buyers and sellers engaging in the marketplace, this circumstance does not exist.
Related Questions
Question : When there is only one buyer and one seller of a product, it is called a ____ situation.
Question : Match the following:
| Form of market | Number of sellers and buyers |
| 1. Oligopoly | a. Large number of sellers and |
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