QuestionMay 30, 2025

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.

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.
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.

Solution
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Answer

He bought up oil refineries, cut costs, and reinvested his profits in other refineries. Explanation Rockefeller built his monopoly by strategically buying up oil refineries, cutting costs to increase efficiency, and reinvesting profits into expanding operations. This approach allowed him to dominate the market effectively.

Explanation

Rockefeller built his monopoly by strategically buying up oil refineries, cutting costs to increase efficiency, and reinvesting profits into expanding operations. This approach allowed him to dominate the market effectively.
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