Which statement is true?
A. More than any other region in the nation, the South prospered the most in the years following the Civil War.
B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s, all bypassed the South.
C. Before the Civil War most of the nation's large farms were located in the North.
D. None of the choices are true.
B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s, all bypassed the South.
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The ________ of something is the gain or pleasure that it brings
A) rational margin B) marginal cost C) benefit D) opportunity cost E) rational choice
A perfectly competitive firm is producing 50 units of output and selling at the market price of $23. The firm's average total cost is $20. What is the firm's economic profit?
A) $23 B) $150 C) $1,000 D) $1,150 E) $50
The price elasticity of demand for movies is approximately 1 and 500,000 tickets are sold per day. If the average price of a movie ticket increases by 20 percent, the number of tickets sold each day decreases to ________
A) 400,000 B) 300,000 C) 420,000 D) 475,000
Scarcity results when available resources cannot satisfy all desired uses of those resources.
Answer the following statement true (T) or false (F)