If Marginal Cost Is Less Than Average Cost, Average Cost

question 27

True/False

If marginal cost is less than average cost, average cost is rising.

---

Definitions:

Positive Relationship

A Positive Relationship in economics refers to a situation where an increase in one variable leads to an increase in another variable.

Gelato

A rich, Italian-style ice cream known for its density and intense flavors.

Temperature

A measure of the average kinetic energy of the particles in a system, expressed in units such as Celsius (°C), Fahrenheit (°F), or Kelvin (K).

Scarcity

The basic economic issue arises from unlimited human desires facing limited resources on Earth.