-Which Statement Concerning the Map Is NOT True

question 45

Multiple Choice

-Which statement concerning the map is NOT true?

• A) The road network developed by the nation that colonized Australia emphasized transportation to port cities.
• B) The transportation network shown here is representative of a general pattern followed by colonial powers as they extracted resources from their colonies.
• C) Australia's railway network has allowed for national standardization of railway components and gauges, thus permitting easy transport of goods among different parts of the country.
• D) Like most colonial powers, England chose to develop the port cities of its colonies.

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Definitions:

Marginal Revenue Curve

A graphical representation showing the change in total revenue that results from selling one additional unit of a good or service.

Profit Maximization Condition

The state or point at which a firm achieves the highest possible profit, often determined by the marginal cost equalling the marginal revenue.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.

Price Taker

An entity in a market that has no control over the prices at which it buys or sells goods, typically because it is too small to influence market prices.