In the US, Which of the Five Basic Modes of Transportation Is

question 77

Multiple Choice

In the U.S., which of the five basic modes of transportation is responsible for the largest volume (in value) of domestic freight hauled?

• A) Rail
• B) Truck
• C) Pipeline
• D) Water

Interpret graphical representations of cost concepts and scales of production.

Distinguish between short-run and long-run production periods and associated cost behaviors.

Apply the concept of minimum efficient scale in the context of firm size and cost management.

Identify the factors contributing to economies of scale and how they affect firm production and costs.

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