How did monopolies affect large businesses in the early 1900's?

Monopolies were businesses that had no competition. They were the only one that made a certain product or a certain service, like the Phone Company. They could get their buyers to do what ever they wanted, give bad service, and could set high prices.

Large corporations could keep low prices and so people would buy their products instead of thei competitor's products, forcing their competitors to go out of business, forming a monopoly.

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