1. Please explain any value-added comments/ insight and questions you have to the discussion below.

The article I found began by explaining what a monopoly is. A monopoly is when only one firm exists in a particular industry. There only one seller that sells unique products with no substitutes and 0 competitors. The seller has the power to set prices at any range they want.

One example of a big name monopoly is Carnegie Steel Company which was created by Andrew Carnegie. The name was later changed to U.S Steel. For a long period of time Andrew was successful in creating the monopoly and had full control of the steel industry. Like most long lasting Monopolies the leadership was changed and in recent times J.P Morgan took possession of the company and changed the name to U.S Steel.

Monopolies in the U.S are hurting the economy overall a major resource like steel being controlled by one singular person or persons has major affects on the rest of the industry. Because of this many antitrust laws were put into place to control the trade and allow competition in the market.

"Monopoly Examples: Top 6 Real Life Examples of Monopoly." EDUCBA, 24 Aug. 2022, https://www.educba.com/monopoly-examples/.

2. Please explain any value-added comments/ insight and questions you have to the discussion below.

As we are all aware monopolies were made illegal in 1890 by congress named the Sherman act. While this is true what if I told you could make a legal monopoly in today's world. They can be established through a public franchise, a government license, a patent, or copyright. The situation which makes this legal is if the government gives a firm the right to be the exclusive provider of a good or service. The only reason these legal monopolies exist is for the benefit of the people such as if the government believes it will be in the people's best interest. A big difference from a normal monopoly versus a legal one would be that in a normal monopoly they overcharge and sometimes gave low output of products. Well in a legal monopoly the government decides the prices for them to sell their goods or services. An example of a legal monopoly is AT&T Corp. When the telephone was invented by Alexander Graham Bell the firm the inventor formed (now AT&T) was to establish itself as a monopoly by 1907.