Vital Improvements in Railroading in the Late 19^th Century Included

question 65

Multiple Choice

Vital improvements in railroading in the late 19^th century included

• A) standard gauge of track width.
• B) air brakes.
• C) steel rails.
• D) Pullman cars.
• E) the block signal.

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Definitions:

Price Strategies

Various approaches businesses use to set prices for their products or services with the aim of maximizing profitability and market share.

Pure Competition

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to price taking behavior.

Marginal Revenue

The increase in revenue that results from selling one additional unit of a product or service.

Horizontal Axis

The “left-right” or “west-east” measurement line on a graph or grid.