Question

The Standard Oil company was found in violation of antitrust law in 1911 and forced to break into 34 separate companies. Define antitrust law and describe how it protects competition.

Answer 1

Will give Medal + Fan!

Answer 2

Early on, Rockefeller and partners attempted to make money on the home lighting market, converting whale oil to kerosene. Gasoline had been nearly worthless up to 1911. [ However, with a growing demand for "juice" needed to power the newly emergent automobile, Standard Oil Trust's moneybags began to bulge. The Trust broke up in 1911, which led to the skyrocketing of the trust's stock prices.
Some historians contend that the breakup of Standard Oil closely resembles the more modern monopoly breakup of AT&T and the Bell telephone system.antitrust law=Legislation enacted by the federal and various state governments to regulate trade and commerce by preventing unlawful restraints, price-fixing, and monopolies; to promote competition; and to encourage the production of quality goods and services at the lowest prices, with the primary goal of safeguarding public welfare by ensuring that consumer demands will be met by the manufacture and sale of goods at reasonable prices.Antitrust law seeks to make enterprises compete fairly. It has had a serious effect on business practices and the organization of U.S. industry. Premised on the belief that free trade benefits the economy, businesses, and consumers alike, the law forbids several types of restraint of trade and monopolization. These fall into four main areas: agreements between or among competitors, contractual arrangements between sellers and buyers, the pursuit or maintenance of Monopoly power, and mergers. ]

Answer 3

http://www.weegy.com/?ConversationId=51D3B2F2

Answer 4

Early on, Rockefeller and partners attempted to make money on the home lighting market, converting whale oil to kerosene. Gasoline had been nearly worthless up to 1911. [ However, with a growing demand for "juice" needed to power the newly emergent automobile, Standard Oil Trust's moneybags began to bulge. The Trust broke up in 1911, which led to the skyrocketing of the trust's stock prices.

Answer 5

That's were I got it from