List two characteristics of the market structure where Telkom operates before the emergence of the big three

The two main characteristics of the market structure where Telkom operates before the emergence of the big three are:

1. Profit-maximization as the single seller and price-fixer

2. High barriers to entry of all entities backed by government regulations

Explanation:

Telkom was the only fixed-line and state-owned monopolist in South Africa until the mid-1990s when the big three telecom competitors emerged following deregulation. During the era when it was a monopolist, Telkom was the only provider of fixed-line telephone services.  At that time, mobile networks had not been introduced.  As a single seller of its services, Telkom practiced price discrimination and maximized profits, ensuring that the barriers to entry of other companies were strongly protected by law.

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