Asked by sfs
In the Gilded age, how did monopolies affect many small businesses?
Monopolies helped small businesses grow.
Monopolies forced small businesses to shut down.
Monopolies had no effect on small businesses.
Monopolies provided customers for small businesses
All Answers 1
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Monopolies forced small businesses to shut down.
Large trusts and corporations used economies of scale, price-cutting, rebates, vertical integration, and buyouts to drive competitors out of business and control markets (e.g., Standard Oil, Carnegie steel practices).
Large trusts and corporations used economies of scale, price-cutting, rebates, vertical integration, and buyouts to drive competitors out of business and control markets (e.g., Standard Oil, Carnegie steel practices).
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