​If Marginal Cost (MC)is Higher Than Average Cost (AC),average Cost

question 73

Multiple Choice

​If Marginal Cost (MC) is higher than Average Cost (AC) ,average cost is

• A)​falling
• B)rising
• C)constant
• D)​none of the above

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Definitions:

John Astor

John Jacob Astor was an American businessman, real estate builder, investor, and at one time the wealthiest person in the United States, known for amassing his fortune in fur trade and by investing in New York City real estate.

Jay's Treaty

An agreement in 1794 between the United States and Great Britain that sought to resolve issues remaining after the American Revolution and facilitate ten years of peaceful trade between the two countries.

Treaty Of Ghent

The agreement that ended the War of 1812 between the United States and Britain, signed in Ghent, Belgium, in 1814.

Fur Business

An industry involved in the buying, selling, and trading of animal fur for the production of fashion and clothing, historically significant in the economic development of North America and Europe.