Correct Answer: Option B

Explanation

In a monopoly, the seller is the price maker, not the price taker. A monopoly is a market structure characterized by a single seller,
selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with
no close substitute. Therefore, the statement 'Buyers and seller are price takers' is not a feature of a monopoly.

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