According to the Text, All of the Following Contributed to the Development

question 18

Multiple Choice

According to the text, all of the following contributed to the development of an industrial revolution in Britain except

• A) large and easily developed supplies of coal and iron.
• B) the enclosure movement providing factories with a labor pool.
• C) a river transportation system supplemented by canals and toll roads.
• D) relative decentralization of European governments' power.
• E) availability of cheap labor.

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Definitions:

Marginal Product

Marginal product refers to the increase in output that results from employing one more unit of a particular input while keeping other inputs constant.

Power Cords

Electrical cables that connect an appliance, device, or equipment to the main electricity supply.

Third Worker

Refers to an additional laborer in a scenario, typically discussed in the context of marginal productivity or the law of diminishing returns.

Profit-Maximizing Quantity

The level of production at which a firm achieves the highest possible profit.