Andrew Carnegie's monopoly in steel was never as complete as John D. Rockefeller's monopoly in oil. But even after the breakup of Standard Oil in 1914, monopolies kept developing -- including more "natural" monopolies such as Microsoft and Facebook. Why does the government of the USA continue to attempt to break up monopolies? What is the economic rationale? A. Monpolies are inherently anti-consumer. B. Monpolies are a natural consequence of technoogical innovation, and are seen by some economists as evidence of the superiority of capitalism because the market rewards competition. C. Monopolies are problematic because of price-fixing, which is achieved mainly after they become established, not because of the aggressive competition required to out-compete rivals before market dominance is achieved. D. All the above.
Andrew Carnegie's
A. Monpolies are inherently anti-consumer.
B. Monpolies are a natural consequence of technoogical innovation, and are seen by some economists as evidence of the superiority of capitalism because the market rewards competition.
C. Monopolies are problematic because of price-fixing, which is achieved mainly after they become established, not because of the aggressive competition required to out-compete rivals before market dominance is achieved.
D. All the above.
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