Question

Which was the immediate goal of the Standard Oil Company when it lowered its prices?

(1 point)
Responses

to sell stock to investors

to sell stock to investors

to outcompete rival businesses

to outcompete rival businesses

to form a monopoly

to form a monopoly

to pass on lower costs to customers

Answer 1

To outcompete rival businesses. The immediate aim of cutting prices was to undercut competitors and drive them out of the market (later leading toward monopoly).