When Little Furniture Company produces 100 chairs - its average variable cost is $25 . The marginal cost of the 101st chair is $22 . If the firm chooses to produce the 101st chair, what will happen to average variable cost? Explain

Which of the following most accurately and completely describes the responsibilities the Constitution gave to the federal government?

a. The authority to provide for copyrights and patents b. The right to tax c. The authority to regulate interstate commerce d. All of the above

If intended investment is $500 billion, and actual investment is $620 billion, then we know that

a. consumption is $620 billion b. unwanted inventory is $620 billion c. consumption is $120 billion d. unwanted inventory is $120 billion e. saving is $500 billion