Dominant firms that formed in several industries in the U.S. in the 1870s and 1880s, which assigned control to a single decision group, were referred to as
A) trusts.
B) mergers.
C) tying contracts.
D) single-seller monopoly.

Question

Quizplus · Accepted Answer

The dominant firms that formed in several industries in the U.S. in the 1870s and 1880s, which assigned control to a single decision group were referred to as trusts. Trusts were formed by several firms to create a monopoly and eliminate competition in a particular industry. The trust was a legal entity that allowed firms to merge their operations, but retain control over their individual assets. The trusts were later outlawed in the U.S. with the passage of the Sherman Antitrust Act in 1890.

Dominant Firms That Formed in Several Industries in the U