One defining characteristic of pure monopoly is that: the monopolist is a price taker. the monopolist uses advertising. the monopolist produces a product with no close substitutes. there is relatively easy entry into the industry, but exit is difficult.

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Kade Colon

Business

31 December, 15:18

One defining characteristic of pure monopoly is that: the monopolist is a price taker. the monopolist uses advertising. the monopolist produces a product with no close substitutes. there is relatively easy entry into the industry, but exit is difficult.

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Macie Stephenson · Answer 1

One defining characteristic of pure monopoly is that the monopolist produces a product with no close substitutes. A pure monopoly is a market structure where there is a single company that produces a product and there is not another company that produces a product remotely similar. Due to not having another substitute the company with the product that is the only one available becomes a pure monopoly.