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Pure Monopoly
A market structure characterized by a single seller selling a unique product with no close substitutes.
Barrier To Entry
Anything that artificially prevents the entry of firms into an industry.
Ownership Of Essential Resources
Refers to the control and claim over crucial resources needed for production, such as land, water, and minerals.
Pure Monopolists
Firms that are the sole supplier of a unique product with no close substitutes, granting them significant control over pricing.
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