RobertELee Surrendered to Ulysses S

question 93

Multiple Choice

RobertE.Lee surrendered to Ulysses S.Grant at Appomattox Court House after

• A) President Jefferson Davis announced the Confederate government was defeated.
• B) President Abraham Lincoln was assassinated.
• C) Lee recognized the futility of continued fighting.
• D) President Lincoln met President Davis.
• E) President Jefferson Davis was captured by Union forces.

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Definitions:

Market Demand

The overall volume of a good or service that consumers in a market are ready and able to buy across a range of prices.

ATC

Stands for Average Total Cost, which is the total cost of production (fixed plus variable costs) divided by the number of units produced.

Economic Profits

A reiteration emphasizing the calculation that includes total revenues minus total costs, where total costs consider both the explicit and implicit costs.