This Market insists of only one seller

The single seller sells a product that has no close substitutes.

The barriers to entry are high, which means that the entry into the market is extremely difficult.

Monopolistic sells it's products for the highest prices possible, but nothing is guaranteed that the price is greater than the monopolies total average cost. If it is not, the monopoly seller doesn't earn profits.

One of the characteristics of a monopolistic market is a barrier entry. They include legal barriers which are monopolies extremely low average costs, and a monopolistics exclusive ownership of a scarce resource.

One of the disadvantages of the monopoly market is increased price and low-quality products. Real life examples of these 2 disadvantages are increased price is gas station prices. Low-quality products of this is food and any other type of product in a store like dollar tree.

2 advantages of this is research and development and it encourages innovation. Innovation is a careful balance between monopoly and competition. Real life examples of research and development is microsoft and a real life example of innovation is apple.