Gibbons V.Ogden (1824)was Important Because It

question 61

Multiple Choice

Gibbons v.Ogden (1824) was important because it

• A)developed the concept of judicial review.
• B)developed the concept of dual citizenship.
• C)established the supremacy of the national government in all matters affecting interstate commerce.
• D)determined that the forced relocation of the Five Civilized Tribes to Oklahoma was unconstitutional.

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Definitions:

Marginal

Term used to describe the effects of a change in the current situation. For example, a producer’s marginal cost is the cost of producing an additional unit of a product, given the producer’s current facility and production rate.

Average Increasing

A situation in which the average cost of production goes up as the quantity produced increases.

Long-run Average Total Cost

The average cost per unit of output produced over a period during which all inputs, including capital, are variable.

Diseconomies of Scale

The situation in which a business experiences an increase in average costs per unit when output is increased beyond a certain point.