What Was the Significance of the Conflict Between the Virginia

question 57

Multiple Choice

What was the significance of the conflict between the Virginia and the Monitor?

• A) It ended the Union blockade.
• B) It almost prompted the British to enter the war.
• C) It marked the birth of the ironclad warship.
• D) It showed the South's superior industrial resources.

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Definitions:

Average Product

is the output per unit of input, such as the quantity of goods produced per labor hour, and is used to measure productivity.

Marginal Cost

The expenditure resulting from the creation of an additional unit of a product or service.

Short-run Total Cost

The total of all costs, both fixed and variable, that a firm incurs in producing goods or services in the short run.

Average Total Cost

The cost per unit of output, determined by dividing the overall production cost by the quantity produced.