Asked by fgs b
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
Answered by
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Monopolies forced many small businesses to shut down.
Large trusts and monopolies used economies of scale, price cutting, control of supplies and distribution (and sometimes unfair tactics like rebates and secret deals) that undercut competitors, drove prices and profits down, and bought out or eliminated smaller firms.
Large trusts and monopolies used economies of scale, price cutting, control of supplies and distribution (and sometimes unfair tactics like rebates and secret deals) that undercut competitors, drove prices and profits down, and bought out or eliminated smaller firms.
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