When an industry was monopolized by one company or trust during the Gilded Age, what happened to workers' wages?

Workers often earned more because fewer businesses were competing for their services.

Workers often earned less because more businesses were competing for their services.

Workers often earned more because more businesses were competing for their services.

Workers often earned less because fewer businesses were competing for their services.

Question

Juarez

History

23 February, 10:09

When an industry was monopolized by one company or trust during the Gilded Age, what happened to workers' wages?

Workers often earned more because fewer businesses were competing for their services.

Workers often earned less because more businesses were competing for their services.

Workers often earned more because more businesses were competing for their services.

Workers often earned less because fewer businesses were competing for their services.

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Fatima Blake · Answer 1

Generally speaking, when an industry was monopolized by one company or trust during the Gilded Age, then " Workers often earned less because fewer businesses were competing for their services," since the monopolies could pay the workers practically whatever they wanted.