The Following Questions Refer to the Image Below

question 37

Multiple Choice

The following questions refer to the image below.

North Wind Picture Archives / Alamy
-Work in the cotton mills of New England

• A) provided many women with financial independence for the first time.
• B) allowed women to broaden their search for husbands .
• C) gave women a trade they could take with them when they moved.
• D) paid less than doing piecework at home.

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Definitions:

Long Run

A period in economics during which all factors of production and costs are variable, and firms can adjust all inputs.

Efficient Output

The level of production that maximizes a firm's profits while minimizing its costs, often associated with where marginal cost equals marginal revenue.

Lowest Price

The minimum cost at which a product or service can be bought, often sought after in competitive markets.

Total Profits

The final financial gain from a business operation after subtracting all expenses, taxes, and costs from total revenues.