What was the original price of the first Ford Model T car?

Study for the Wits and Wagers Test. Utilize flashcards, multiple choice questions, and detailed explanations. Get ready to ace your exam!

The original price of the first Ford Model T car was indeed close to the answer indicated, but the initially offered price for the Model T when it was introduced in 1908 was around $850. This vehicle became notorious for its affordability due to mass production techniques that Henry Ford introduced, which significantly lowered costs over subsequent years. By the time the production peaked in the 1920s, the price was lowered to around $300, showing how production efficiency transformed pricing. While the other provided options represent prices in that general range, the historical record attributes $850 as the relevant price point during the Model T's early existence. This context helps understand the economic impact of the Model T on the automotive industry.

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