The correct answer is Option C .
In pure monopoly market model conditions of entry is more difficult.
Explain pure monopoly?
- A pure monopoly is a single seller in a market or industry with high entry barriers, such as high startup costs, whose product has no substitutes.
- Monopoly power is derived from economies of scale, locational advantages, high entry costs, restricted ownership of key inputs, and government restrictions such as exclusive franchises, licensing and certification requirements, and patents.
- A pure monopoly market is considered inefficient because it will charge higher prices and produce fewer outputs. Because they do not have to compete with others, monopolies are less innovative and inefficient. Inefficiency will also result in a downward sloping demand curve and market dominance over monopoly.
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