In which of the following industry structures is the entry of new firms the most difficult?
A) pure monopoly
B) oligopoly
C) monopolistic competition
D) pure competition

Question

Quizplus · Accepted Answer

In a pure monopoly, there is only one firm in the market and they have complete control over the supply and price of the goods or services they provide. Due to this control, the entry of new firms is the most difficult as the monopolist can use its power to prevent competition through legal and economic barriers such as patents, high start-up costs, and government regulations.

In Which of the Following Industry Structures Is the Entry