Read the passage.John D. Rockefeller was an American industrialist. He eventually became the owner of the Standard Oil Company and formed a near monopoly. At one point he owned roughly 95 percent of the country’s oil refining businesses.

With roughly 95 percent of the oil-refining business, Standard Oil had little competition. A near monopoly can limit consumers’ ability to choose another supplier, allowing the company to charge higher prices. So the likely result was that consumers paid higher prices, not that they had more options.

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