Use the General Relationship Between Marginal and Average Values to Explain

question 176

Essay

Use the general relationship between marginal and average values to explain why a marginal cost curve must intersect an average total cost curve and an average variable cost curve at their minimum points.

---

Definitions:

First Continental Congress

A meeting of delegates from twelve of the Thirteen Colonies in 1774, convened in Philadelphia to address grievances against British policies and to organize colonial resistance.

Delegates

Representatives elected or chosen to attend a conference or convention.

Economic Classes

Divisions within society based on wealth, income, occupation, and access to resources, contributing to differing social and political interests.

State Of Rebellion

A condition of defiance or resistance against established authority, often leading to conflict or upheaval.