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A monopoly in history refers to a market structure where a single entity or company dominates the supply of a particular product or service, effectively eliminating competition. Historically, monopolies have often arisen through mergers, acquisitions, or government grants of exclusive rights, leading to significant economic and political power. Examples include the Standard Oil Company in the late 19th century and the British East India Company during colonial times. Such monopolies have frequently prompted regulatory responses to promote competition and protect consumers.

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