Was the transcontinental railroad a monopoly?

Answer 1

The transcontinental railroad was not a monopoly in the strictest sense, as multiple companies were involved in its construction and operation, including the Central Pacific and Union Pacific Railroads. However, once completed, it did create a dominant transportation network that significantly influenced commerce and industry across the United States. This dominance led to concerns about monopolistic practices, as the railroad companies could set prices and control access to key markets. Ultimately, while not a monopoly by definition, the transcontinental railroad had monopolistic characteristics in its impact on the economy.