Question

Why was Carnegie Steel able to offer its product at a lower price than its competitors?

Answer 1

The answer to this multiple question is:

~Carnegie could cut his costs because he owned the supply of raw materials and the means of production and distribution.

~So the answer is C.

Hope this helps!!

Answer 2

The correct answer is C) Carnegie owned the raw materials, factories, and distribution.

Carnegie Steel was able to offer its product at a lower price than its competitors because  Carnegie owned the raw materials, factories, and distribution.

Carnegie Steel could cut its costs because the company owned the supply of naturals resources, raw material, and the means of production and distribution. Carnegie had bought those companies to integrate the horizontally and have total control of his Monopoly. When Carnegie bought the Allegheny Steel, he knew he was forming a monopoly.

During the Gilded Age, the government under corruptive practices allowed the formation of monopolies that made the richer companies be more richer and had no competition at all, The owners were richer but the workers kept on earning low wages.