Which of the Following Statements Is True

question 93

Multiple Choice

Which of the following statements is true?

• A)By the beginning of the 1800s, 13.6% of the world's population lived in places of 5,000 or more.
• B)In 1900 the proportion of the world's population living in cities of 100,000 or more was approximately 25.5 percent.
• C)By 1900, the world was 60 percent urban.
• D)World-wide, the number of urban dwellers surpassed rural dwellers for the first time in 1900.

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Definitions:

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a product or service.

Marginal Cost

The extra financial burden of manufacturing an additional unit of a product or service.

Price Takers

Firms or individuals who accept the market price as given and have no power to influence that price due to the competitive nature of the market.

Marginal Revenue

The additional income received from selling one more unit of a product or service.