as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
describe what a monopoly is and give one example.
user
a monopoly is a circumstance where a single company or entity controls the majority of a particular market. monopolies give that company the power to set prices, control quality, and limit competition. an example of a monopoly is google, which has an overwhelmingly dominant share of the search engine market.
assistant