Which Was the First Election in Which Several Southern States

question 65

Multiple Choice

Which was the first election in which several southern states broke with tradition and voted against the Democratic Party?

• A) 1940
• B) 1944
• C) 1948
• D) 1952

---

Definitions:

Monopolistic Competition

A term often used by economists to describe markets characterized by a large number of sellers that supply differentiated products to a market with low barriers to entry. Essentially, it is an alternative term for a competitive price-searcher market.

Marginal Revenue

Extra profit generated from the sale of one more unit of a product or service.

Marginal Cost

The additional cost incurred to produce one additional unit of a good or service.

Average Variable Cost

The variable cost of production (costs that change with output level) divided by the quantity of output produced.