how was rockefeller able to build his monopoly across the oil industry?\nhe bought up oil refineries, cut…
how was rockefeller able to build his monopoly across the oil industry?\nhe bought up oil refineries, cut costs, and reinvested his profits in other refineries.\nhe confined his business to ohio so he could buy all the refineries there.\nhe found newer and cheaper ways to refine oil, increasing his profits.\nhe began to sell kerosene as well as oil, expanding his market.
Answer
Brief Explanations:
Rockefeller's strategy to build an oil monopoly centered on horizontal integration: he systematically purchased competing oil refineries, implemented cost-cutting measures across operations, and reinvested the resulting profits to acquire even more refineries, effectively controlling most of the industry's refining capacity. The other options are incorrect: he expanded beyond Ohio, his key focus was not just cheaper refining methods alone, and selling kerosene was a market expansion but not the core of his monopoly-building.
Answer:
A. He bought up oil refineries, cut costs, and reinvested his profits in other refineries.