Yasmin has an idea, but she cannot implement it because a monopoly producer has placed a barrier to entry. What makes this an abnormal circumstance?

Question

Quizplus · Accepted Answer

The presence of a monopoly producer placing a barrier to entry indicates market failure because it limits competition and prevents new entrants from establishing themselves in the market. This can lead to higher prices, decreased innovation and less consumer choice.

Yasmin Has an Idea, but She Cannot Implement It Because