how was rockefeller able to build his monopoly across the oil industry? he bought up oil refineries, cut…
how was rockefeller able to build his monopoly across the oil industry? he bought up oil refineries, cut costs, and reinvested his profits in other refineries he confined his business to ohio so he could buy all the refineries there. he found newer and cheaper ways to refine oil, increasing his profits. he began to sell kerosene as well as oil, expanding his market.
Answer
Brief Explanations:
Rockefeller bought oil refineries, cut costs, and reinvested profits to build his monopoly. This allowed him to control more of the industry. The other options don't fully explain the creation of his monopoly. Confining to Ohio limits growth, finding new refining ways or selling kerosene alone don't create a monopoly - scale and control through acquisition do.
Answer:
He bought up oil refineries, cut costs, and reinvested his profits in other refineries