In Order to Keep the Balance of Power in Europe

question 8

Multiple Choice

In order to keep the balance of power in Europe following German unification, the European great powers

• A) divided up Africa, giving Germany a sphere of influence on the continent to appease its great power aspirations.
• B) forced Germany to disintegrate back into small autonomous political principalities.
• C) formed an alliance with China.
• D) formed an alliance with the United States.
• E) allowed Germany to conquer and colonize Ethiopia without interfering.

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Definitions:

Minimum AVC

The lowest point of the average variable cost curve where each unit of production is at its cheapest.

Short Run

A period during which at least one factor of production is fixed, leading to limitations in output adjustment.

Long Run

A period of time in which all factors of production and costs are variable, allowing for full industry adjustment to changes.

Minimum ATC

This refers to the lowest point on the average total cost curve, representing the most efficient scale of operation for a firm.