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For each historical identification question, define the term and briefly describe its historical significance.
Athens
Monopoly Power
The ability of a single seller to control market prices and exclude competitors.
Price Wars
A competitive situation where retailers or producers continually reduce prices to undercut competitors, often at the expense of profit.
Approach Zero
A concept in mathematics and economics where a variable gets infinitely close to zero but never actually reaches zero.
Standard Oil Company
An American oil producing, transporting, refining, and marketing company established by John D. Rockefeller and associates in 1870, known for its historical monopoly in the industry.
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