Discuss the Expansion of America's Railroad System in the Late

question 6

Essay

Discuss the expansion of America's railroad system in the late nineteenth century, and examine the impact of this expansion on the American economy and on American concepts of time and space.

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Definitions:

Four-firm Concentration Ratio

A metric that indicates the total market share owned by the four largest firms in an industry, used to assess the degree of market concentration and competition.

Market Shares

The share of a market that a specific company holds, typically represented by the percentage of total market sales it accounts for.

Herfindahl Index

The Herfindahl Index is a measure of market concentration used to determine the intensity of competition within an industry, calculated by summing the squares of the market shares of all firms within the market.

Import Competition

The pressure on domestic companies from foreign producers offering goods or services in the same market.