WAEC Economics 1996 Question 22

Monopoly can best be described as a market in which

1. A.a single seller sells a product which has no close substitute
2. B.few sellers sell a product at different prices
3. C.the entry of other firms is restricted by the few firms in the market
4. D.two or more sellers sell a product which is differentiated
5. E.a single buyer buys a product which has no close substitute