Question

in the gilded age, how did monopolies affect many small businesses? monopolies helped small businesses grow.

Answer 1

In the Gilded age, monopolies affected the small businesses as the monopolies forced small businesses to shut down. A monopoly arises when a single corporation dominates the market for a given product or service.

Monopolies frequently result in the closure of the smaller businesses. One business can regulate the product prices when it controls a particular market. Due to their size, most the monopolizing businesses can afford to reduce their prices so much that no small business can compete. Because of this, the smaller companies are left with no alternative except to shut down or combine with the monopolizing firm.

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