The Development of a National Railroad System Was Hampered by Which

question 139

Multiple Choice

The development of a national railroad system was hampered by which of the following?

• A) The absence of a national standard for track width
• B) The public's fear concerning the safety of rail travel
• C) The refusal of most financial institutions to grant loans for rail construction
• D) The cost of both buying land and hiring the number of workers necessary to lay track over rough terrain

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Definitions:

MR

Short for Marginal Revenue, which is the additional income earned by selling one more unit of a product or service.

ATC

Average Total Cost, which is the total cost of production (fixed plus variable costs) divided by the quantity of output produced.

ATC

Average Total Cost, which is the total cost of production divided by the quantity of output produced.

Price Charged

The amount of money demanded for a product or service in the market.