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

Question

1.to sell stock to investors
2.to outcompete rival businesses
3.to form a monopoly
4.to pass on lower costs to customers

Answer 1

The immediate goal of the Standard Oil Company when it lowered its prices was 2. to outcompete rival businesses. By lowering prices, Standard Oil aimed to attract more customers and drive competitors out of the market, which was a strategy used to establish dominance and eventually form a monopoly.