Answer: The first is ONE COMPANY, The second is HIGHER, The last is BARRIERS TO ENTRY
Explanation:
In a monopoly industry is dominated by one company the consumer pay higher prices it results from barrier to entry which prevent other companies from entering into the market.
A monopoly is a market structure actually where a single seller or producer merely or gradually assumes a dominant position in an industry or a relative sector in an economy over the period of the time.
A monopoly is known to be as that business that is characterized by the features of the lack of competition within a market and unavailable substitutes for its overall product in the market economy Monopolies can merely dictate the overall price changes and create certain barriers for competitors to enter the marketplace at a particular period of the time.
Companies actually become monopolies by generally controlling the entire and overall supply chain, from production generally to the sales through different vertical integration, or buying competing companies in the market actually or gradually through horizontal integration, becoming the single producer of the company.
Public monopolies merely provide essential services considering and goods, such as the utility industry as over and only one company commonly supplies water to certain place.
Therefore Monopoly market has single seller.
Learn more about Monopoly here:
brainly.com/question/5992626
#SPJ5
