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thats is opposite of a open market, in an open market you have more than 1 "ticket" company competing for prices. in this case, sometimes its also a oligopoly(which is multiple companies have share the same market) and they often collude with each other determine pricing of any items. monopoly is the sole market of an service which they can determine pricing in anyway they choose.
an example of oligopoly is insulin types. only 3 companies controlled the different variations of insulin and agreed upon each other to price it however they wanted, since they had no competition.
what you also said paying what the price is, its called a walled garden of services/items.