Which was the immediate goal of the standard oil company when it lowered its prices

Answer 1

The immediate goal of the Standard Oil Company when it lowered its prices was to increase market share and drive competitors out of business. By reducing prices significantly, Standard Oil aimed to attract more customers and increase sales volume, making it difficult for rival companies to compete effectively, especially those with higher production costs. This strategy was part of a broader approach to establish a monopoly in the oil industry, allowing Standard Oil to control prices and supply in the long term once competition had been eliminated.