A monoid is an algebraic structure consisting of a set equipped with a binary operation that is associative and has an identity element. This means that for any three elements in the set, the operation can be performed in any grouping without changing the outcome, and there is a specific element in the set that, when used with any other element in the operation, returns that same element. Monoids are essential building blocks in abstract algebra, connecting closely with groups and semigroups by emphasizing their structure and properties.
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