Which One of the Following Statements Accurately Describes the Results

question 95

Multiple Choice

Which one of the following statements accurately describes the results or duration of the nonimportation movement?

• A) It lasted through the outbreak of the Revolutionary War and was crucial in helping to establish a strong American manufacturing sector.
• B) It resulted in the creation of a powerful group of smugglers who sided with the British during the Revolutionary War.
• C) American merchants largely abandoned it when Parliament repealed the Townshend Acts at the urging of British merchants.
• D) Soon after it began, colonial leaders urged the colonists to abandon it because they felt that it was too harmful to the local economy.
• E) It resulted in an economic recession in England that led many British citizens to reject the crown and openly support the colonists.

---

Definitions:

MR = MC

Marginal Revenue equals Marginal Cost; a condition used to determine the profit-maximizing level of output for a firm.

Profit-maximizing Quantity

The level of output at which a business realizes the greatest profit, where marginal cost equals marginal revenue.

Economic Loss

Occurs when the total cost of producing a good or service exceeds the revenue generated from its sale, leading to negative profitability.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales, such as rent, salaries, and insurance premiums.