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a. Ford Motor Company branching out into the production and sale of home appliances such as refrigerators.
b. Standard Oil as the only source of oil for 94% of the U.S. population.
c. General Electric only hiring white male workers of English ancestry.
d. The Bank of the United States only lending money to men in the Northeast.
1 answer
The best example of a monopoly from the options provided is:
b. Standard Oil as the only source of oil for 94% of the U.S. population.
A monopoly occurs when a single company or entity is the exclusive provider of a product or service in a market, which is exemplified by Standard Oil's dominant position in the oil industry during its peak.
