History has shown us that monopolies don't work in our culture. This was evidenced by Standard Oil. Does anyone here remember Standard Oil? At one point, they were the wealthiest company in the world, thanks to their monopolistic control of the petroleum market. controlled nearly 90 percent of the refined oil flows in the US. They were forced to break up due to their curbing of trade. But are monopolies really gone today? that Apple and Google are today's monopolies. Technology developers and researchers disagree. Correct answer: Technology Today and Techo ResearchTechnology Today and Techo Research claim there are lots of other technology manufacturers out there, but due to brand and quality differentiation, they capture most of the market shares due to their superior products and services. Clearly, economic researchers are on to something based on the little fruit adorned on the shiny devices on your desks. Let's look a bit closer at what a monopolistic market is, in comparison to a perfectly competitive one, and you'll see what I mean