Which of the Following Is True of the Petition of Right

question 16

Multiple Choice

Which of the following is true of the Petition of Right passed by the Parliament of James I in 1628?

• A) It granted the king parliamentary right to make reforms in Ireland.
• B) It allowed the king to collect funds to modernize the navy without parliamentary consent.
• C) It asserted that taxes could only be raised by the king through parliamentary consent.
• D) It asserted that the Parliament would grant adequate revenue to the king only for financial reasons.

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Definitions:

Marginal Cost

The funds required to produce an extra item of a product or service.

Average Fixed Cost

Fixed production charges (remaining constant irrespective of output size) partitioned by the amount of production.

Average Total Cost

Average total cost is the total cost of production divided by the total quantity produced, representing the cost per unit of output produced.

Marginal Cost

The increase in total cost that arises from an extra unit of production, which is crucial for decision-making on the quantity of production and pricing.