Which of the following is a characteristic of pure monopoly?
A)close substitute products
B)barriers to entry
C)the absence of market power
D)"price taking"

Question

Quizplus · Accepted Answer

Monopolies are characterized by barriers to entry, which prevent competitors from entering the market. This can include legal restrictions, control of a key resource, or high costs of entry.

Which of the Following Is a Characteristic of Pure Monopoly