In the "Triangular Trade," the North American Colonies Primarily Contributed

question 46

Multiple Choice

In the "triangular trade," the North American colonies primarily contributed

• A)manufactured goods.
• B)sugar.
• C)raw materials.
• D)gold dust.
• E)slaves.

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Definitions:

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical.

Short Run

A period of time in economics during which at least one input is fixed and cannot be changed by businesses.

Average Total Cost

It is the total cost divided by the number of goods produced, encompassing both fixed and variable costs.

Monopolistic Competitor

A firm operating in a market structure characterized by many producers selling similar but not identical products, leading to some degree of market power and pricing authority.