Consider a firm with a daily demand of 100 units, a production rate per day of 500 units, a setup cost of $200, and an annual holding cost per unit of $10. suppose that the firm operates 300 days per year. how many units of inventory must their storage area be able to hold?

Which of the following is the term for something that you can't live without 1. need 2. want 3. good 4. service

John has been working as a tutor for $300 a semester. when the university raises the price it pays tutors to $400, jasmine enters the market and begins tutoring as well. how much does producer surplus rise as a result of this price increase?

Dan mcclure is trying to decide on how many copies of a book to purchase at the start of the upcoming selling season for his bookstore. the book retails at $28.00. the publisher sells the book to dan for $20.00. dan will dispose of all the unsold copies of the book at 75 percent off the retail price, at the end of the season. dan estimates that demand for this book during the season is normal with a mean of 100 and a standard deviation of 42. a. how many books should dan order to maximize his expected profit? b. given the order quantity in part a, what is dan's expected profit? c. the publisher's variable cost per book is $7.50. given the order quantity in part a, what is the publisher's expected profit?