The solar window manufacturing industry is an example of _____ because it comprises many firms wanting to sell similar but differentiated products

In the above table, the efficient level of output is

A) 2,000 units. B) 3,000 units. C) 4,000 units. D) 5,000 units.

After computing the social savings from the railroads, Fogel concluded that ______

a. the railroads were indispensable to the economic development of the United States b. the railroads were not indispensable in 1850 but by 1890 were dispensable c. the railroads could explain only a small fraction of the growth in real income in the United States d. economics is not sufficiently scientific to make a meaningful calculation of the social savings