Bilateral monopoly situation is ........

Indian Economy (Easy) Planning in India

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Bilateral monopoly situation is

when there are only two sellers of a product

when there are only two buyers of a product

when there is only one buyer and one seller of a product

when there are two buyers and two sellers of a product

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Explanation:

‘Bilateral Monopoly’ A market that has only one supplier and one buyer. The one supplier will tend to act as a monopoly power, and look to charge high prices to the one buyer. The lone buyer will look towards paying a price that is as low as possible.