This System Was Based on Auburn State Prison, Opened in 1816

question 65

Multiple Choice

This system was based on Auburn State Prison, opened in 1816 in Auburn, New York. Auburn was promoted as a less expensive alternative to the solitary system, and one that could generate revenue for the state through inmates' work in prison factories. This demonstrates:

• A) The congregate system
• B) The solitary system
• C) Prison farms
• D) The jail system

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Definitions:

Industry Supply

Industry Supply is the total quantity of a good or service that all producers in an industry are willing and able to sell at various prices within a specified time period.

Representative Firm

An idealized company in economic models which is designed to reflect the typical characteristics of a firm within a particular industry.

Cost Curves

Cost curves are graphical representations of the costs associated with producing varying quantities of goods, showing how costs change with changes in output.

Pure Competition

A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price determination by market demand and supply.