In the American Business Community at the End of the Nineteenth

question 15

Multiple Choice

In the American business community at the end of the nineteenth century,

• A)one percent of businesses controlled one-third of all manufacturing.
• B)almost all corporations had achieved stability through "pool" arrangements.
• C)federal reforms of corporations had ended the most predatory business practices.
• D)most states had made it illegal for one corporation to buy another one.
• E)rampant competitiveness and labor shortages helped to keep prices down and wages up.

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Definitions:

Marginal Costs

The increase in total production cost that comes from making or producing one additional unit.

Average Total Costs

The cost per unit of output, calculated by dividing the total cost by the quantity of output produced.

Technological Change

The process of innovation and development of new methods, products, or processes, driving efficiency and economic growth.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, making them consistent regardless of business activity levels.