Look up the case of Standard Oil, against which an antitrust suit was filed, charging it with abusive monopolistic practices. The case was won, and Standard Oil was broken up - at a time when it had less than 70% market share.
no, they are correct
you are confusing “pure monopoly” which means a single firm has 100% share of the market with the general use and legal term “monopoly” which means that a single firm has control of their sector of the market
Look up the case of Standard Oil, against which an antitrust suit was filed, charging it with abusive monopolistic practices. The case was won, and Standard Oil was broken up - at a time when it had less than 70% market share.
no, they are correct
you are confusing “pure monopoly” which means a single firm has 100% share of the market with the general use and legal term “monopoly” which means that a single firm has control of their sector of the market