By 1860,three-Quarters of All Southern Whites Did Not Own Slaves,but

question 54

Multiple Choice

By 1860,three-quarters of all southern whites did not own slaves,but instead

• A) lived and worked in the emerging cities of the South.
• B) eked out a living in the mountains and backcountry raising corn and hogs.
• C) owned small farms where they and their families raised cotton.
• D) farmed a mixture of wheat, tobacco and cotton.
• E) None of these

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Definitions:

Monopsonist

A market condition in which there is only one buyer for a product or service, giving the buyer substantial power over prices.

Maximizing Profit

The process or strategy implemented by a company to ensure that they achieve the highest possible financial gain from their operations, taking into account both revenue and costs.

Marginal Value Curve

A curve showing how the value or utility of consuming an additional unit of a good changes as the quantity consumed changes.

Price

The sum of money anticipated, needed, or provided in exchange for something.