The Colonial Production of ________ Had a High Fixed Cost

question 23

Multiple Choice

The colonial production of ________ had a high fixed cost because it required an initial heavy investment in capital.

• A) tobacco
• B) rice
• C) indigo
• D) cotton

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Definitions:

Modification

The act of making changes or alterations to something, such as a document or agreement, often to improve it or make it more suitable.

Past Consideration

Refers to something given or an action that has been taken in the past, which cannot legally serve as a consideration for a present contract.

Statute of Limitations

A legal rule setting the maximum time period in which certain actions can be brought to court or certain rights enforced, after which claims are barred regardless of merit.

Undisputed Debt

The amount of money owed that is not contested or challenged by the debtor, accepted as due and payable.