In Response to a Railroad Strike in 1877,the Knights of Labor

question 17

Multiple Choice

In response to a railroad strike in 1877,the Knights of Labor was formed which did all but which of the following?

• A)accepted all races,except Blacks,as members
• B)accepted women as members
• C)advocated equal pay for equal work
• D)reduced working hours

---

Definitions:

Average Total Cost

The cost per unit of output, calculated by dividing the total production cost by the total quantity produced.

AVC Curve

A graph representing the average variable cost of producing different quantities of output, typically U-shaped due to economies and diseconomies of scale.

Short-run Shut-down Price

The price level at which a firm's total revenue is equal to its variable costs, below which it should cease operations.

Short-run Supply Curve

Represents the relationship between the price of a good and the quantity supplied over a short period, during which at least one input is fixed.