Which of the Following Expresses the Philosophy of the Typical

question 51

Multiple Choice

Which of the following expresses the philosophy of the typical boss of a big-city political machine at the end of the nineteenth century?

• A) Political power should be used to improve quality of life for the poor.
• B) Cities would operate more efficiently if they used civil service exams to hire employees.
• C) Land use decisions should be made by elected officials rather than private business interests.
• D) Political power is primarily a vehicle for accumulating personal wealth.

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Definitions:

Shut Down

This term refers to a short-term decision made by a firm to cease operations when the market price falls below the minimum average variable cost.

Scale of Production

Refers to the level at which production activities are aggregated or expanded, affecting the unit costs and capability of the production process.

Lower

To decrease in position, value, or condition.

Average Total Cost

The total cost of production divided by the number of units produced, encompassing both fixed and variable costs.