Which Amendment Freed Slaves

question 24

Multiple Choice

Which Amendment freed slaves?

• A) Thirteenth.
• B) Fourteenth.
• C) Sixteenth.
• D) Eighteenth.

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Definitions:

Marginal Revenue

The additional income generated from selling one more unit of a good or service. It is a vital concept in determining the optimal level of output for a company.

Marginal Cost

Marginal Cost refers to the increase in total production cost that arises from producing one additional unit of a good or service.

Economic Profits

The surplus achieved when the revenue from business activities exceeds both the explicit and implicit costs, differing from accounting profits by considering opportunity costs.

Accounting Profits

The total revenue of a company minus total explicit costs; the profit figure reported in financial statements.