Dominant firms that formed in several industries in the u. s. in the 1870s and 1880s, which assigned control to a single decision group, were referred to as multiple choice trusts. single-seller monopoly. mergers. tying contracts.

This would have been a single-seller monopoly. In this system, one entity or group unfairly dominates an industry, locking out all competition. This then allows that seller to grossly raise prices once all competitors are out of business, since buyers have no other choices. This was a particular problem when it involved necessary goods for living, such as utilities.