4. Why was Carnegie Steel considered a vertical monopoly? A. The company controlled every step of steel production, from raw materials to distribution. B. The company controlled all the steel plants in the country. C. The company became the only source of steel after competitors went out of business. D. The company was able to produce more steel than any other steel company in the world.

The correct answer is Option C) The company became the only source of steel after competitors went out of business.

A monopoly is formed when only 1 company owns the majority of market share. In the case of Carnegie Steel, they were the only source of Steel in the market when small competitors went out of business.

At its time, Carnegie Steel Company was one of the largest companies in the world and was able to make a lot of money during the American boom time of the late 19th Century.

The founder of the company was Andrew Carnegie, a Scottish born American from a poor family who emigrated to the US, build his business and sold it to J. P Morgan for over $14 billion in modern terms.

The answer is C) The company became the only source of steel after competitors went out of business.