Question

Rockefeller combined his many companies to create Standard Oil Trust forming a monopoly (eliminate competition) on the oil market which

Question 2 options:

led to massive riots across the US that forced Rockefeller to sell the Standard Oil Trust to the government


allowed him to set the price for oil, but hurt the consumer who paid a higher price.


made the price of oil drop because consumers had many options to choose from for oil


did not affect him, the consumer, or the price of oil

Answer 1

Hello!
"Allowed to set the price for Oil, but hurt the consumer who paid a higher price" is the answer, hope I helped =)

Answer 2

The answer is B) 
allowed him to set the price for oil, but hurt the consumer who paid a higher price.

Rockefeller's success in controlling the oil industry, and thus establishing a large enough market share to set the price, made him lots of money since he could charge as much as he wanted. The consumer naturally suffered, since a higher price had to be paid for oil than the efficient, competitive price.