The term bilateral monopoly refers to that market situation in which _______.

a single seller confronts a single buyer

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there are large number of buyers and sellers

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few sellers and large number of buyers are available

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only one producer of a commodity is available

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Solution

The correct option is A a single seller confronts a single buyer
A bilateral monopoly is a situation in which there is a single buyer and a single seller. Hence, the term bilateral monopoly refers to such a market situation in which a single seller confronts a single buyer.

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