Answer:
456 Gallons
Explanation:
The Optimal order quantity can be found using the following formula:
Economic Order Quantity = Sqrt (2* Annual Demand * Ordering cost per order / Holding cost per unit per year)
EOQ= SquareRoot (2 * 50000 Gallons * $150 per order/ 0.48 Holding costs)
Economic Order Quantity = 456 Gallons
Explanation:
Perfect competition - A perfectly competition firm is one that is marked by a huge number of seller / producers as well as a large number of buyers . These firms produce large amounts of homogeneovs products that are sold at a price decided in the market by market force .
Answer:
The correct answer is letter "D": the quantity demanded of cereal will increase.
Explanation:
According to the demand theory, as long as the quantity demanded increases, the price would decrease (the demand curve shifts to the right). The quantity demanded decreases when the price would increase (the demand curve shifts to the left).
In the example, as eggs and cereals are substitute products, if a disease kills a large number of chickens there will be fewer eggs supply in the market. Consumers will start looking for substitutes. Then, <em>the quantity demanded for cereal will increase</em> moving the <em>demand </em><u><em>curve</em></u><em> to the right</em>.
<span>One result of the global economy is that trade
between the United States and other countries has decreased. </span>
