If a product exhibits decreasing returns to scale, then the average cost of making the product will ______ as its production increases?
a. Increase.
b. Decrease.
c. Remain the same.
d. There is insufficient information provided to ANSWER the question.
Question 2Many late 19th century managerial innovations were first developed by
a. the automobile industry.
b. the railroads.
c. the textile industry.
d. the iron and steel industries.
Question 3Property rights and territorial hunting rights:
a. had little bearing on the depletion of the beaver in 1700s.
b. were lacking and thereby crucial to depletion of the beaver in the 1700s.
c. could have provided incentives against overharvest of the beaver in the 1700s
d. Both b and c are correct.
e. None of the above are correct.
Question 4On the eve of the Civil War, __________ power was more important than _____________ power, but by the end of the 19th century, 90 percent of manufacturing energy came from _________.
a. animal; water; steam
b. steam; water; electricity
c. wind; water; petroleum
d. water; steam; coal
Question 5The colony of Georgia was established in 1732 . During the colony's early years,:
a. each arriving settler received a 50-acre farm.
b. cotton plantations were the primary source of income.
c. the slave population assisted free colonists in defending the Georgia-Florida border.
d. the slave population exceeded the free population.
e. All of the above.
Question 6In the late 1800s and early 1900s, the primary source of energy for manufacturing was
a. coal.
b. petroleum.
c. water.
d. electricity.
Question 7In colonial Georgia,:
a. communal agriculture was successful.
b. cotton plantations were flourishing by the early 1700s.
c. the slave population assisted free colonists in defending the Florida border.
d. slavery was initially prohibited.
Question 8In the late 1800s, the Goodyear welt process vastly increased productivity in the ______ industry.
a. steel
b. boot and shoe
c. tire
d. cotton textiles
Question 9Which British colony in North America was the last to be founded, and was designed to assist those who owed debts in the Old World?
a. Georgia
b. Rhode Island
c. Florida
d. Pennsylvania.
Question 10During the 1870s, ___ surpassed ___ as the leading source of power.
a. animals; humans
b. water; animals
c. steam; water
d. electricity; steam