Which of the following is A common characteristic of a monopoly?

A common characteristic of a monopoly is the presence of significant barriers to entry for new firms. In a monopoly, one company dominates the market, often controlling the entire supply of a product or service. These barriers can take various forms, such as high startup costs, exclusive access to resources, patents, or government regulations that prevent other companies from entering the market. Because of these barriers, new competitors struggle to enter and compete with the monopolistic firm, solidifying the latter's position and allowing it to maintain control over pricing and supply without facing direct competition.

In contrast, the other options describe characteristics typical of more competitive market structures. A setting with many sellers offering identical products signifies perfect competition, where firms have little to no market power. Equal bargaining power among sellers is also a hallmark of competitive markets, where no single seller can influence price. Finally, unrestricted price competition refers to environments where multiple firms actively compete on price, another characteristic found in competitive markets rather than in a monopolistic market.