Extended Real Numbers under Multiplication form Monoid

Theorem
Denote with $\overline \R$ the extended real numbers.

Denote with $\cdot_{\overline \R}$ the extended real multiplication.

The algebraic structure $\left({\overline \R, \cdot_{\overline \R}}\right)$ is a monoid.

Proof
Checking the axioms for a monoid in turn:

Closure
Immediate as $\cdot_{\overline \R}: \overline \R \times \overline \R \to \overline \R$ is a mapping.

Associativity
Proved on Extended Real Multiplication is Associative.

Identity
For all $x \in \R$, it holds that $1 \cdot_{\overline \R} x = x \cdot_{\overline \R} 1 = x$ by definition of $\cdot_{\overline \R}$ on $\R$.

Furthermore, by definition, $1 \cdot_{\overline \R} \left({+\infty}\right) = \left({+\infty}\right) \cdot_{\overline \R} 1 = \left({+\infty}\right)$.

Lastly $1 \cdot_{\overline \R} \left({-\infty}\right) = \left({-\infty}\right) \cdot_{\overline \R} 1 = \left({-\infty}\right)$.

That is, $1 \in \overline \R$ is an identity for $\cdot_{\overline \R}$.

Hence, satisfying all the axioms, $\left({\overline \R, \cdot_{\overline \R}}\right)$ is a monoid.