What Two Items Led to a Major Change During the 1920s

question 70

Multiple Choice

What two items led to a major change during the 1920s in how Americans spent their leisure time?

• A)Electricity,advertising
• B)Marketing,roads
• C)Automobiles,rising incomes
• D)Sport teams,boxing matches
• E)Highways,airplanes

---

Definitions:

Reaction Function

In economics, it represents how one economic agent's decision changes in response to another's action, especially in competitive markets or games.

Demand Function

A mathematical representation showing the relationship between the quantity demanded of a good and its price, along with other determinants.

Marginal Cost

Additional cost incurred by increasing product or service production by one unit, emphasizing the concept of incremental expenditure.

Constant Marginal Cost

A situation in production where the cost to produce one additional unit of output remains the same, regardless of the volume produced.