A major factor that weakened Standard Oil's monopoly power prior to being broken up by the Supreme Court in 1911 was
A) the discovery and development of the Texas and Oklahoma oil fields.
B) an increase in the demand for oil brought about by the increase in automobile ownership.
C) the government regulation of Standard Oil as a natural monopoly.
D) the increased use of ethanol, which is made from corn, as a source of fuel.
E) the significant losses incurred while searching and drilling for oil.

Question

Quizplus · Accepted Answer

The discovery and development of the Texas and Oklahoma oil fields created new competition for Standard Oil and weakened their monopoly power. This increased the supply of oil and decreased Standard Oil's control over the market, leading to the eventual breakup of the company.

A Major Factor That Weakened Standard Oil's Monopoly Power Prior