The innovation of Transportation and Communication act as catalyst for Market Revolution in the 18th Century.
The term "Market Revolution" describes a fundamental transformation to the U.S. economy in the 18th and 19th Century as a result of widespread mechanization of industry and the expansion of various domestic and foreign economic markets.
The revolution brought about an explosive economic growth and new personal wealth in the country.
The impact of the transportation and communication industry brought about the increased improvement in Market Revolution because its speed and lowered the expense of commerce during the period.
Therefore, in conclusion, the Transportation and Communication are the catalyst for the Market Revolution.
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Answer:
B) the temporary reduction of jobs during a downturn in the business cycle
Explanation:
Cyclical unemployment is B) the temporary reduction of jobs during a downturn in the business cycle. Unemolyoment reduces when there's a upturn in the economy.
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Answer:
Demand will increase, but these two factors will not shift the supply curve.
Explanation:
Both factors applies on the demand curve:
advertize will increase the demand
and the increase of people willing to do surgery increase demand.
An increase in supply will be new hospitals or more doctors capppable of do the surgery.
Answer:
False
Explanation:
Since for finding out whether the offer is accepted or not, first we have to determine the total cost at 600 number of players and for 601 number of players which is
The total cost of 600 players is
= 600 × $300
= $180,000
The total cost of 601 players is
= 601 × $301
= $180,901
Now the marginal cost is 601 player is $901 which is difference between the $180,000 and $180,901 that is higher than the offered price i.e $550
Therefore, the offer should not be accepted
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