Economics · Market Structures
Which of the following is a primary characteristic of a pure monopoly market structure?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A single firm selling a product with no close substitutes✓
- 2A market with absolute freedom of entry and exit for new firms
- 3A single seller with high availability of close substitutes
- 4A large number of sellers selling differentiated products
Correct answer
A single firm selling a product with no close substitutes
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