WORLD HISTORY

Detailed explanation-1: -An unlawful monopoly exists when one firm controls the market for a product or service, and it has obtained that market power, not because its product or service is superior to others, but by suppressing competition with anticompetitive conduct.

Detailed explanation-2: -Types of Monopolies A pure monopoly is a single seller in a market or sector with high barriers to entry such as significant startup costs whose product has no substitutes. Microsoft Corporation was the first company to hold a pure monopoly position on personal computer operating systems.

Detailed explanation-3: -When only one company controls an entire industry-or even a sizeable percentage of that industry-the company is said to have a monopoly. Traditionally, monopolies benefit the companies that have them, as they can raise prices and reduce services without consequence.

Detailed explanation-4: -Monopolies are bad because they control the market in which they do business, meaning that they have no competitors. When a company has no competitors, consumers have no choice but to buy from the monopoly. The company has no check on its power to raise prices or lower the quality of its product or service.