what is the example of monopoly
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To date, the most famous United States monopolies, known largely for their historical significance, are Andrew Carnegie's Steel Company (now U.S. Steel), John D. Rockefeller's Standard Oil Company, and the American Tobacco Company.
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A monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. An unregulated monopoly has market power and can influence prices.
Examples of monopoly: Microsoft and Windows, DeBeers and diamonds, your local natural gas company.
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