Improvements in transportation during the first half of the 19th century
a. enhanced labor mobility and made both product and labor markets more competitive.
b. helped local political entities create monopolies, making both product and labor markets less competitive.
c. were only profitably implemented in the Northern states, causing product shortages in the Southern states.
d. None of the above are correct.
a. enhanced labor mobility and made both product and labor markets more competitive.
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Keynes (1941) claimed that government spending during wartime could generate a healthy increase in the demand for output, thus raising employment levels and boosting incomes
To avoid inflation, physical rationing, monetary measures and other controls were consequently needed. Indicate whether the statement is true or false
Assuming a homogeneous product, the Bertrand equilibrium price is
A) independent of the number of firms. B) independent of the firm's marginal costs. C) equal to the Cournot equilibrium price. D) equal to the monopoly price.