Question 1 The following diagram shows the average freight rate for different modes of transportation from 1784

Question

Question 1: The following diagram shows the average freight rate for different modes of transportation from 1784

to 1900. Using the data explain why the diffusion of steamboats was so important to lowering freight rates. Again use the data to discuss why canals were so important in areas where there were no navigable rivers.

Question 2: The below chart shows the percentage ratio of prices in Cincinnati, Ohio (e.g. a Midwestern city) and different cities (e.g. (Pc/Pny)*100).Q.1 as we can see from the data above that the average freight rate has decreased over the years
from 1784 to 1900 like from the average rate of 35 tonnes first came down to 10.0 during
1804 and…

Economics