Answer:
In hindsight, <u>from the Gilded Age </u><u>monopolists </u><u>perspective they would say that they have pushed too far with manipulation of prices and thus brought negative reaction and counter measures from the general public.</u> In particular, farmers in the Western country demanded that the government set maximum prices on railroads because monopolist had uncontrolled pricing power. Through the Granger movement they achieved passing of some of the ‘Granger Laws’ and set pricing limit on some services.
This concerned other industries as well. For example, the famous <u>Robber baron</u> Vanderbilt was competing with steamboat monopoly that controlled transportation between New York City and Albany. Using populist rhetoric and peoples line to bring down monopolies, he was trying to pave the way for his own business. Meanwhile, <u>the monopolistic Hudson River Steamboat Association end up paying him a great amount of money so that he would stop doing it</u>.
Answer:
A) The equilibrium price will increase, and the equilibrium quantity will decrease.
Explanation:
Since the cost of building materials have increased, equilibrium price of new houses will increase, however, equilibrium quantity of new houses will reduce. According to the law of supply and demand, unless a product is inelastic, increase in price results in decrease in demand. Thus with the increase in the cost of new houses, will bring about a decrease in the quantity of new houses.
Answer:
I'm positive that the answer is A. increase consumer spending
Explanation:
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