Despite dramatic increases in trackage during the antebellum period, the U.S. was slow to develop an integrated railroad system. This was primarily due to
a. the opposition of municipal governments to railroads.
b. the opposition of the federal government to railroads.
c. the failure to adopt a standard gauge for track.
d. heavy taxes on railroad companies.
c. the failure to adopt a standard gauge for track.
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Why would a chain store sell some items, such as soda pop, below cost?
A) They are not interested always in maximizing profit. B) They feel people need soda pop more than the other items in the store. C) Pricing some items "below cost" might be an efficient strategy to maximize the store's total profit. D) Because most firms can only enjoy profits by consistently selling all their items below cost.
If oranges and grapefruit are close substitutes, an increase in the price of oranges will shift the demand curve of
a. both products to the right. b. both products to the left. c. grapefruit to the right. d. oranges to the left.
Transferring entries from a journal to the ledger is called ___
Fill in the blank(s) with correct word
According to the specialized-factor pattern, the more a factor is concentrated in the production of a product, the more it stands to gain from an increase in the price of this product.
Answer the following statement true (T) or false (F)