In 1860,three-Quarters of the White Population of the South Were

question 51

Multiple Choice

In 1860,three-quarters of the white population of the South were

• A) planter aristocrats.
• B) small slaveowners.
• C) urban mill workers.
• D) European immigrants.
• E) non-slaveowning subsistence farmers.

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Definitions:

Average Cost

The total cost of production divided by the number of units produced, representing the cost per unit of output.

Production Function

An equation that specifies the output that can be produced with different combinations of inputs or factors of production.

Total Cost

The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.

Amounts of Factors

The quantities of inputs or resources (such as labor, capital, and materials) used in the production of goods or services.