Answer:
8 pounds
Explanation:
The computation of economic order quantity is
EOQ = √ 2 × Annual demand × Ordering cost / Carrying cost
Where;
Annual demand = 52 weeks × 4 pounds = 208 pounds
Ordering cost = $8
Carrying cost = $1 per pound per week × 52 = $52
EOQ = √ 2 × 208 × $8 / $52
EOQ = 8 pounds
Therefore, Grounds should order 8 pounds at a time.
The Correct Choice of Answer is Option B
A market to determine an <u>Equilibrium price</u>
- When the market is not operating at its equilibrium level, when supply and demand are equal, market failure occurs. Inefficiencies in the market lead to the issue of efficiency loss (deadweight loss).
- As an illustration, suppose the government levies a tax that causes a difficulty with the inability to establish an equilibrium when supply and demand are equal. a reduction in efficiency (deadweight loss) for both buyers and suppliers
<h3><u>What transpires when prices are balanced?</u></h3>
- The price at which the amount provided and requested are equal is referred to as the equilibrium price. It is established by where the demand and supply curves cross. If the amount of an item or service supplied exceeds the amount sought at the going rate, there is a surplus, and the price is under pressure to decline.
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Higher benifits and Lower Costs
By definition, GDP per capita is an economic term wherein it is the result when the total GDP (Gross Domestic Product) of a country is divided by the total number of population in that country. Therefore, a higher GDP per capital would most likely indicate that there is also a higher standard of living.