The immediate goal of the Standard Oil Company when it lowered its prices was to increase its market share and eliminate competition. By reducing prices, Standard Oil aimed to attract more customers, making it difficult for smaller rivals to compete. This strategy often involved temporarily selling oil at a loss in order to drive competitors out of business or force them to sell their companies. Once competition was sufficiently diminished, Standard Oil could then raise prices again to maximize profits. This practice was part of a broader strategy known as predatory pricing.
which was the immediate goal of the standard oil company when it lowered its prices?
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