When there is only one buyer and one seller of product it is called _____ situation.1). Public monopoly2). Bilateral monopoly3). Franchised monopoly4). Monopsony

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1.	When there is only one buyer and one seller of product, it is called _____ situation.1). Public monopoly2). Bilateral monopoly3). Franchised monopoly4). Monopsony
Answer» OPTION 2 : SEEMS CORRECT

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When there is only one buyer and one seller of product, it is called _____ situation.1). Public monopoly2). Bilateral monopoly3). Franchised monopoly4). Monopsony