After the Construction of the Lancaster Turnpike and the Cumberland

question 49

Multiple Choice

After the construction of the Lancaster Turnpike and the Cumberland (National) Road,road building slowed somewhat because of

• A) corruption in construction contracts.
• B) the inability to construct hard-surface highways.
• C) eastern states' opposition.
• D) the steamboat and canal boom.
• E) the reluctance of shippers to move their products by road.

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Definitions:

Rule of Reason

A legal doctrine used in antitrust law that evaluates the restrictive practices of a business by considering the purpose of the practice and its effect on competition.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed in 1890 to outlaw monopolistic business practices.

Demand Elasticity

An indicator that reflects the degree of change in demand for a good due to price adjustments.

Optimal Strategy

The best course of action to achieve the highest payoff or benefit, given a particular set of conditions.