As a Result of the First Punic War

question 46

Multiple Choice

As a result of the First Punic War

• A)the Carthaginians were forced to withdraw from Spain.
• B)the Carthaginians were forced to withdraw from Sicily and pay an indemnity to Rome.
• C)Sicily gained its independence from both Rome and Carthage.
• D)Rome was forced to relinquish its Mediterranean claims.
• E)Pyrrhus invaded Italy.

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Definitions:

Economic Rents

Extra earnings or return above the normal expected return of an investment or economic activity.

Reallocation

The process of redistributing resources or assets from less productive uses to more productive ones in order to enhance efficiency and economic output.

Diminishing Returns

A rule that asserts when one input in the production process is augmented and the rest remain unchanged, the resultant extra production will ultimately diminish.

Marginal Revenue Product

The additional revenue generated by employing one more unit of input, such as labor or capital.