USA HISTORY

Detailed explanation-1: -A vertical monopoly refers to a monopolistic company that uses vertical integration. This means that the company owns the process from the production of raw materials to the distribution of the products to the consumer. A significant example of a vertical monopoly was Carnegie Steel.

Detailed explanation-2: -In addition, Carnegie Steel bought up its sources of raw materials and shipping (in a strategy called vertical integration) and bought out and absorbed its competitors (horizontal integration) to dominate the steel industry. By the 1890s, it was the largest and most profitable steel company in the world.

Detailed explanation-3: -Vertical Integration was first used in business practice when Andrew Carnegie used this practice to dominate the steel market with his company Carnegie Steel. It allowed him to cut prices and exhuberate his dominance in the market.

Detailed explanation-4: -Answer and Explanation: Andrew Carnegie (b. 1835-1919) gained control of the U.S. steel industry by producing quality steel at low prices and by taking over every stage of production, eventually gaining a monopoly.

Detailed explanation-5: -Since 2021, vertical integration has been at the center of the strategies of companies like Amazon, Apple, Ferrero, Tesla, and NVidia.