The Introduction of Iron Had Which of the Following Effects

question 20

Multiple Choice

The introduction of iron had which of the following effects?

• A)changed warfare.
• B)brought new areas of land into cultivation.
• C)created more durable tools.
• D)All of the options are correct.
• E)None of the options are correct.

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Definitions:

Supply Curve

A visual chart illustrating the connection between a product's price and the amount of the product that sellers are ready to manufacture and offer for sale.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, indicative of the flexibility of producers.

Midpoint Method

A technique used in economics to calculate the elasticity between two points on a demand curve by using their average.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in the price of that good, indicating the responsiveness of producers.