History of monopoly
The history of monopoly pertains to the historical tendency of a successful commercial enterprise to dominate an industry. The practice started during Advanced Industrialization with such companies as Standard Oil and the Carnegie Steel Company.
Recently, companies such as Microsoft have been accused by the U.S. Department of Justice of the monopolistic practice of Embrace, extend and extinguish. In addition, ExxonMobil and several other corporations have been accused of monopolizing an industry and even crushing competition.
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- Monopolistic competition
- Complementary monopoly
- Bilateral monopoly
- Sherman Antitrust Act
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