Which company was a monopoly during the gilded age?
A) Carnegie Steel
B) Microsoft
C) Allegheny Steel
D) AT&T
Answers
it hope help u
ANSWER:
a. Carnegie Steel
EXPLANATION:
During the 1873 depression, Andrew Carnegie a big business man invested hugely in the steel business and he was able to raise the steel quality while decreasing its price by utilising innovative technology like the Bessemer process.
Slowly, Carnegie established a vertical monopoly within the steel industry by acquiring control over all levels concerned with steel production from procuring raw materials, to manufacturing and distribution, to marketing and finance. Carnegie’s business style can be said as a monopoly because of Carnegie’s control of the entire process of making steel products.
Andrew Carnegie controlled every facet if the steel business from the mines, steel mills, barges, and the transportation of the steel products. This built a massive network for Carnegie’s industry and a security for his products. By the year 1897, Carnegie controlled nearly the whole steel industry in the US. In the year 1901, Carnegie Steel merged with the US Steel company to become the biggest company in present at the time .