Cárdenas and Abrego Turned a Local Smuggling Operation That Had

question 15

Multiple Choice

Cárdenas and Abrego turned a local smuggling operation that had roots in prohibition into a full blown ___________________

• A) Distillery
• B) Political move
• C) Drug smuggling operation
• D) War against the government

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Definitions:

Marginal Revenue

The enhanced earnings a business receives by selling one more unit of its goods or services.

Marginal Cost

The swell in overall financial outlay resulting from the crafting of an extra unit of a good or service.

Profit-Maximization

A business objective to achieve the highest possible profit through managing revenues and expenses, often central to the decisions made by firms.

Competitive Firms

Businesses operating in a market where they compete with others for customers, each with minimal influence over market prices.