What Is the Doctrine of "Manifest Destiny" and What Was

question 21

Essay

What is the doctrine of "manifest destiny" and what was its impact?​

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Definitions:

Horizontal

In economics, horizontal can refer to a market situation where there are many competitors in the industry, but they all offer a similar product or service.

Profit-Maximizing

A strategy where businesses seek to achieve the highest possible profit from their operations, typically by adjusting output, pricing, and other variables.

Average Revenue

The amount of income generated per unit of sale, calculated by dividing total revenue by the quantity of goods sold.

Marginal Revenue

The additional income obtained from selling one more unit of a product or service.