The correct answer is C) Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.
<em>Carnegie Steel was able to offer its product more cheaply than its competitors because Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.</em>
Carnegie (1835-1919) controlled most of the means of production and that represented a great advantage over its competition. They could not beat him, price wise. Later in his life, he became a philanthropist. He wrote the famous "Wealth" essay or "The Gospel of Wealth," in which he said that rich people should take into consideration the necessities of the people.
The other options of the question were a) Carnegie introduced the Bessemer process which decreased the cost of production, b) he cut corners in his production lowering his costs, and d) he made an inferior product so it was less expensive to produce.
