Which of the Following Was Most Likely to Have Remained

question 33

Multiple Choice

Which of the following was most likely to have remained neutral in the Revolutionary War?

• A) A member of the Chesapeake gentry
• B) A Scots-Irish settler in the backcountry
• C) A Scottish settler
• D) A city artisan

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Definitions:

Average Total Cost

The total cost of production (fixed and variable costs) divided by the total quantity of output produced.

Marginal Cost

The additional cost incurred in the production of one extra unit of a good or service.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced; these costs decline as production increases.

Marginal Cost

The financial cost of producing an extra unit of a good or service.