If Grazing Land Is Used by All Individuals on a Free

question 38

Multiple Choice

If grazing land is used by all individuals on a free open range, they will operate until

• A)The AP of the land equals the opportunity cost of the input
• B)The MP of the land equals the opportunity cost of the input
• C)The TP of the land equals the opportunity cost of the input
• D)The MP of the land is larger than the opportunity cost of the input

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Definitions:

European Planters

European Planters were individuals of European descent who owned and operated large agricultural estates, primarily in the colonies, relying heavily on slave labor to grow cash crops like tobacco, sugar, and cotton.

Old World Diseases

Diseases originating in the Eastern Hemisphere, especially Europe, Asia, and Africa, often brought to the Americas and affecting populations with no prior exposure.

African Slavery

The forced bondage and labor of African people, prominently before the 19th century, in various parts of the world, especially significant in the history of the Americas.

Virginia

A state in the United States with significant historical importance, being the first permanent English colony in America.