The Water Frame Spinning Machine Was Invented by

question 66

Multiple Choice

The water frame spinning machine was invented by

• A)James Hargreaves.
• B)James Watts.
• C)Benjamin Franklin.
• D)Richard Arkwright.
• E)Matthew Boulton.

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Definitions:

Short-run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a short period, considering some inputs remain fixed.

Industry-wide Price

The average or standard price level for goods and services across a specific industry or market.

Total Profit

The total earnings of a business after subtracting all costs, including both fixed and variable costs, from total revenue.

Average Total Cost

The total cost of production divided by the total quantity produced, including both fixed and variable costs.