The firm's maximum profit will be

Between 1820 and 1840 freight rates on western rivers declined drastically. The main reason for this drop in prices was _________

a. the decline in the price level. b. tolls and other barriers to trade decreased. c. the decline in monopoly power. d. the frequent use of the steamboat.

A singular important link between politics and economics in LDCs is that

a. democracies are more productive than nondemocracies b. democracies must constantly make difficult budgetary choices c. political instability is incompatible with long-term private investment d. conservatives prefer larger military budgets e. liberals prefer higher education expenditures