Which of the following is an example of a monopoly market structure?

A monopoly market structure occurs when a single company or entity is the only provider of a particular product or service, giving it significant control over the market. This means that there are no close substitutes available, and consumers have no choice but to buy from this one seller. For example, if there is only one company that supplies water to a city, that company has a monopoly because residents cannot choose another provider for their water needs. In a monopoly, the company can set prices higher than in competitive markets because customers have no alternative options. This can lead to less innovation and poorer service since the company does not face competition.