Which of the following was not a key reason for the late-nineteenth-century trend towards corporate consolidation (i.e., the trend towards monopoly)?A: Excessive regulation by the federal government made it impossible for small companies to remain profitable.B: Periodic economic depressions weeded out the weaker companies in various industries.C: Some companies drove others out of business by operating at a loss and underselling the competition.D: Some companies grew more competitive than others by taking over more of the stages of production and distribution.

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