one seller complete barriers to market entry no product differentiation Which of the following Is described by the characteristics Ilsted in the box? Answer A monopoly B oligopoly C pure competition (D) monopolistic competition D

## Step 1<br />The problem presents a scenario where there is only one seller in the market, no product differentiation, and complete barriers to market entry. We are asked to identify the market structure that best fits these characteristics.<br /><br />## Step 2<br />Let's analyze each option:<br /><br />### A monopoly<br />A monopoly is a market structure where there is only one seller or provider of a product or service. This seller has complete control over the market, with no competition. The characteristics mentioned in the problem align perfectly with a monopoly.<br /><br />### B oligopoly<br />An oligopoly is a market structure where a small number of firms dominate the market. This does not match the problem's description as it involves more than one seller.<br /><br />### C pure competition<br />Pure competition, also known as perfect competition, is a market structure where there are many sellers and buyers, and the products are identical. This does not match the problem's description as it involves no product differentiation.<br /><br />### D monopolistic competition<br />Monopolistic competition is a market structure where there are many sellers, but each seller offers a slightly different product. This does not match the problem's description as it involves product differentiation.<br /><br />## Step 3<br />Based on the analysis, the market structure that best fits the characteristics mentioned in the problem is a monopoly.