When a few buyers purchase large amounts from a single seller, they are said to gain buyer's:

• A. monopsony power
• B. market equilibrium
• C. producer surplus
• D. price discrimination

Answer: (A)

Verified step by step guidance

1. Step 1: Understand the concept of market power. Market power refers to the ability of a buyer or seller to influence the price of a good or service in the market.
2. Step 2: Recognize that when a few buyers purchase large quantities from a single seller, these buyers can influence the price they pay because the seller depends heavily on their purchases.
3. Step 3: This specific situation where buyers have significant control over the price due to their purchasing power is called 'monopsony power'.
4. Step 4: Differentiate this from other terms: 'market equilibrium' is the point where supply equals demand; 'producer surplus' is the difference between what producers are paid and their costs; 'price discrimination' is when sellers charge different prices to different buyers.
5. Step 5: Conclude that the correct term describing buyers who can influence prices by buying large amounts from a single seller is 'monopsony power'.