What best describes the availability of substitutes in a monopoly?

In a monopoly, substitutes are usually limited or nonexistent, as the monopolist is the sole provider of a particular good or service in the market. This lack of alternatives allows the monopolist to set prices without concern for competition, as consumers have few or no options to turn to. Consequently, demand for the monopolist's product tends to be inelastic, meaning that changes in price have a relatively small effect on the quantity demanded. Overall, the absence of substitutes is a key characteristic that reinforces the monopolist's market power.