During the late 19th century, businesses tried to
maximize profits by
(1) eliminating tariffs
(2) supporting labor unions
(3) resisting laissez-faire policies
(4) creating monopolies
Generally speaking, during the late 19th century, businesses tried to maximize profits by "(4) creating monopolies," since this greatly reduced competition and allowed them to charge obscene amounts of money for their products.
During the late 19th century, businesses tried to maximize profits by creating monopolies.
Explanation; A monopoly implies that a supplier or the seller of a product or a service has exclusive possession of a market for which there is no substitute of the product or service. The monopolist is therefore is able to determine the price of the product with no fear of competition from other sources or substitute goods. Therefore, the monopolists chooses a price that maximizes their profit.
