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13-04-2021
History

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43.
Which individual is most closely associated with creating a steel monopoly?
O Gifford Pinchot
O Andrew Carnegie
O John D. Rockefeller
O Samuel Gompers

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13-04-2021

Answer:

B - Andrew Carnegie

Explanation:

Andrew Carnegie went a long way in creating a monopoly in the steel industry when J.P. Morgan bought his steel company and melded it into U.S. Steel. Eventually, U.S. Steel stagnated in innovation as smaller companies ate more and more of its market share.

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