According to Douglass North, the Industrial Revolution occurred in England because
A) the British Parliament instituted a command economy structure and implemented a planned economy.
B) the British courts became tied to the king and began to refuse to enforce property rights.
C) the British Parliament took control of the government and could credibly commit to upholding property rights.
D) the British monarchy took control of the government and pledged not to raise taxes arbitrarily.
C
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Why are economists less worried about industry concentration than they once were?
What will be an ideal response?
Which of the following is an outcome of advertising for a monopolistically competitive firm?
a. Long-run average costs shift upward. b. The firm's demand curve keeps the same slope and shifts inward. c. Long-run average costs shift downward. d. The firm's demand curve becomes flatter and shifts inward.