Question

In what way did monopolies, like Standard Oil, affect economic competition?
A. Monopolies decreased competition through high cost of goods
B. Monopolies increased competition through low cost of goods
C. Monopolies decreased competition through controlling the prices of goods
D. Monopolies had no effect on competition

Answer 1

Answer: C. Monopolies decreased competition through controlling the prices of goods.

Explanation:

By controlling the price of goods, monopolistic companies did not leave room for competition. In addition to price control, the monopolistic system implies the absence of competition in the market. President Roosevelt has dealt with monopolies in the United States in all economic sectors. In this way, he created a fairer market and gave an equal opportunity for all.