For a market to be characterized by monopoly, there must be

Question

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In order for a market to be characterized by a monopoly, there must be barriers to entry and exit. This means that there is only one firm or provider of a good or service, and others are unable to enter the market to compete. Without these barriers, other firms could enter the market and compete, leading to a decrease in the monopoly firm's market power. The other options (A, C, and D) do not apply to monopolies.

For a Market to Be Characterized by Monopoly, There Must