The features of monopoly market are as follows:

(i) Single seller and a large number of buyers: A monopoly has a single seller or a group of sellers that together sell a good. Therefore, a monopoly has a single firm. However, there are a large number of buyers in a monopoly market. The buyers cannot influence the price of the product.

(ii) Barriers to entry: A monopoly market has high barriers or restrictions on the entry of the new firm. This is because monopolies tend to have exclusive rights over certain resources or patent rights.

(iii) Unique goods: The goods supplied by a monopolist are unique, and there are no close substitutes of these goods.

(iv) High control over prices: As a monopoly market has a single seller, the seller has a high degree of control over the price.

(v) Price discrimination: A monopolist can undertake price discrimination to earn higher profits. Price discrimination refers to charging different price from different consumers for the same good. 

For example: the price of an amusement park’s ticket can be different for children, adults and elderly people.