Which of the following statements is not a feature of a monopoly?

The statement that is not a feature of a monopoly is "Buyers and sellers are price takers". In a monopoly, there is only one seller of the commodity, and the seller has the power to set their own price since there are no competitors. Additionally, new entrances to the market are usually restricted, and there is no competition to force the seller to lower their price. Buyers, therefore, have no choice but to buy from the monopoly seller at the price they have set. The term "price takers" is used to describe buyers in a perfectly competitive market where they have no power to influence the market price and must accept the prevailing market price. However, in a monopoly, buyers are not price takers as there is only one seller and no other prices to compare it with.