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We've observed that there are few examples of perfectly competitive markets in the real world, yet we use the model of perfect competition as a comparison with other market structures. Can you think of any examples of monopoly in the real world

Respuesta :

Examples of monopoly in the real world are the American Tobacco company and the US steel.

What is a monopoly?

A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services. An example of a monopoly is a utility company.

To learn more about monopolies, please check: https://brainly.com/question/10441375

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