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To get a little more insight into the impact to consumers, and the reason why this behavior is illegal, read the two sections of that Wikipedia quote the other
by bunderbunder 11y ago
To get a little more insight into the impact to consumers, and the reason why this behavior is illegal, read the two sections of that Wikipedia quote the other way around.
- greggyb 11y agoWhere there was no competition, Standard Oil provided oil. Where there was competition, Standard Oil provided oil at zero or near-zero profit. The former is a situation of supply where there was otherwise none, and some is better than none. The latter is a situation of competitive pricing, and competitive pricing is better than non-competitive pricing. How is this worse off for consumers than the situation without Standard Oil?