What is a pure monopoly?
A) It is an industry that is characterized by a few suppliers.
B) It is an industry that has no barriers to entry.
C) It is a market structure in which differentiated products are available.
D) It is a market structure that exists when the entry and survival of potential competitors is extremely unlikely.

Question

Quizplus · Accepted Answer

A pure monopoly exists when there is only one supplier in the market and it is almost impossible for any other firms to enter the market or compete. Therefore, option D is the correct answer. Option A describes an oligopoly, option B is an example of perfect competition, and option C is a description of monopolistic competition.

What Is a Pure Monopoly