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-London, Ontario was originally reserved by John Graves Simcoe in 1793 for the reason that he thought it would be a good place for a provincial capital. Formal settlement, with people arriving and starting to farm and starting businesses in the town, was started in 1826. Shortly after the town was beginning to be settled, the courthouse building, which looks like a fortress, due to the fact that it is stone and has crenellated towers, was built. The Rebellion of 1837-1838 prompted the need for large numbers of many troops to be stationed in London, and so London, by virtue of the fact that it had many soldiers stationed there, became known as a "garrison town." Being incorporated as a town in 1855, and for the reason that it was situated on good transportation lines, with many road and rail connections, London's business and commercial growth really started to grow. London's nineteenth-century houses, which were constructed using distinctive yellow bricks and "keyhole" windows, form a surrounding circular area around the downtown commercial and business section. London is also known as the "forest city," due to the many trees and many varieties of trees in many parks and on tree-lined streets. Although not the provincial capital, as intended by Simcoe, London is a thriving city which has an active arts community, major commercial enterprises, large businesses, and big industries, and it also has a large and vital university community, which contributes to its overall vitality.
Cross-Price Elasticity
The degree to which the demand for one commodity reacts to alterations in the pricing of another commodity.
Cross-Price Elasticity
A measure of how the quantity demanded of one good responds to a price change of another good.
Quantity Demanded
The total amount of a good or service that consumers are willing to purchase at a given price.
Cross-Price Elasticity
A measure of the responsiveness of demand for one good to a change in the price of another good, indicating substitutability or complementarity.
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