Monopolies that developed in the late 1800s from business owners like Andrew Carnegie in steel and John D. Rockefeller in oil allowed them to?
Control the prices of their goods, thus keeping prices as high as possible
Allow for the development new companies to create competition
Develop skilled workers that desired higher education
Increase costs in production that undercut their profits
Control the prices of their goods, thus keeping prices as high as possible
Allow for the development new companies to create competition
Develop skilled workers that desired higher education
Increase costs in production that undercut their profits
1 Answer
Apr 21, 2018
The first one: control the prices of their goods, thus keeping prices as high as possible.
Explanation:
A monopoly, in this case, is an entire business owned by a person/group of people. Take Rockefeller's oil monopoly for example: he owned EVERYTHING in the business from the drills, the gas stations, the refineries, etc. He was able to contol the prices because no one else owned part of it; he had control over the whole thing.
