USA HISTORY

Detailed explanation-1: -A monopoly is a market structure where a single seller or producer assumes a dominant position in an industry or a sector.

Detailed explanation-2: -A monopoly is when one company and its product dominate an entire industry whereby there is little to no competition and consumers must purchase that specific good or service from the one company. An oligopoly is when a small number of firms, as opposed to just one, dominate an entire industry.

Detailed explanation-3: -Vertical integration, on the other hand, occurs when a business takes control of one or more stages in production or distribution, thereby owning all of the parts of the industrial process.

Detailed explanation-4: -A monopoly exists when one supplier provides a particular good or service to many consumers. In a monopolistic market, the monopoly, or the controlling company, has full control of the market, so it sets the price and supply of a good or service.

Detailed explanation-5: -A monopoly occurs when a single company that produces a product or service controls the market with no close substitute. In an oligopoly, two or more companies control the market, none of which can keep the others from having significant influence.