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The rapid increase in the population of eighteenth-century colonial America resulted in an expanding economy,which sharply contrasted with the results of population booms in Europe.Discuss the fundamental economic environment that sustained New England's rapidly growing population.Include in your discussion the major causes of New England's significant population growth and analyze the effects of New England's growing population on land distribution,land usage,and the overall economy.
Inelastic Demand
A situation where the demand for a product does not change significantly with a change in price.
Marginal Revenue
The rise in income achieved by selling an extra unit of a product or service.
Price Searcher
A seller that determines the selling price of its product or service based on market conditions, demand, and competition, instead of adhering to a market dictated price.
Marginal Revenue
The additional revenue that a company receives from selling one more unit of a good or service.
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