Question

What was the purpose of the Sherman Antitrust Act? It made the sale of a corporatio,n without Congress's approval, illegal. Itattemped to create competition by making monopolies illegal. It attempted to increase profits for government-owned businesses by permitting certain monopolies. It made it legal for businesses to seek a monopoly if it paid higher corporate taxes and illegal for those that don't.

Answer 1

The Sherman Antitrust Act was an attempt made by Congress to create competition by outlawing monopolies.

This was in response to the fact that monopolies on products such as steel (Andrew Carnegie), oil (John D. Rockefeller), and even finance (J. P. Morgan) had eliminated all competition between businesses in those trades. Monopolies did nothing but make a few rich men richer, so Congress made it illegal.