Increased Opportunity

question 35

Multiple Choice

Increased opportunity

• A) occurs only for already privileged individuals.
• B) is the marker of modernity.
• C) for mobility occurs at higher rates for individuals at the bottom of the social structure.
• D) allows all members of society to attain the American Dream.
• E) occurred more frequently prior to industrialization.

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Definitions:

Monopoly

A market structure where a single seller controls the entire market for a product or service, having significant market power.

Profit

The financial gain derived from the difference between the revenue earned from selling a good or service and the costs associated with its production and sale.

Marginal Revenue

The additional revenue that is gained from selling one more unit of a good or service.

Marginal Revenue

The additional income earned from the sale of one more unit of a product or service.