The Arrival of Inexpensive Information Technology, Such as Personal Computers

question 23

Multiple Choice

The arrival of inexpensive information technology, such as personal computers and inexpensive telecommunications:

• A)discouraged de-integration.
• B)increased the optimal size of firms.
• C)shifted the long-run average cost (LRAC) curve of firms downward.
• D)shifted the marginal cost of firms upward.

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Definitions:

Reconstruction

The period following the American Civil War (1865-1877), focusing on the integration of the Southern states into the Union and the legal and social status of the freed African Americans.

Union Draft Law

Legislation during the American Civil War that allowed for the conscription of soldiers into the Union Army, notable for its exemptions which could be bought, leading to discontent.

Substitute

An alternative or replacement for someone or something, often used in contexts ranging from education to food products.