Question

When an industry was monopolized by one company or trust during the Gilded Age, what happened to workers’ wages?
Workers often earned more because fewer businesses were competing for their services.
Workers often earned less because more businesses were competing for their services.
Workers often earned more because more businesses were competing for their services.
Workers often earned less because fewer businesses were competing for their services.

Answer 1

Workers often earned less because fewer businesses were competing for their services.

Explanation: Monopolies and trusts reduced employer competition for labor, giving the single dominant firm greater power to set lower wages and limit bargaining options for workers.