By the End of the Gilded Age, the Values of a Metropolitan

question 75

Essay

By the end of the Gilded Age, the values of a metropolitan and industrial America had triumphed over those of a rural and agrarian America. What evidence supports this statement?

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Definitions:

Efficient Use

Utilization of resources in such a way that maximizes the production of goods and services at lowest cost.

Coase Theorem

A principle stating that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property.

Usage Fee

A charge imposed for using a particular service or facility, typically structured according to the extent or duration of use.

Efficient

Characterized by achieving a desired outcome with the least wasted effort or resources.