When Northwesterners Questioned Why All of Texas Was Annexed but Not

question 22

Multiple Choice

When northwesterners questioned why all of Texas was annexed but not all of Oregon, Oregon settlement supporters such as Sen. Thomas Hart Benton of Missouri responded that

• A) Oregon was far more expensive than Texas to defend.
• B) Oregon land was less desirable than that of Texas.
• C) Polk and his supporters in the Senate were far more interested in Texas as a bulwark for slavery.
• D) Great Britain was a far more powerful nation than Mexico.
• E) None of these choices are correct.

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Definitions:

Natural Monopolies

Natural monopolies occur in industries where the costs of production are lowest when a single firm supplies all the output, such as utilities companies.

Welfare Loss

The decrease in economic efficiency that occurs when the optimal allocation of resources is not achieved, leading to a loss of total welfare.

Unregulated Monopoly

A market condition where a single company or entity exclusively controls a particular industry or service without any governmental restrictions or oversight.

Pure Competition

A market structure characterized by a large number of small firms producing an identical product in an industry (market area) that permits complete freedom of entry and exit. Also called price-taker markets.