Irving and his wife gertrude decide to take their life savings of $20,000 to buy a small retail shop. they plan to make and sell tie-dyed, university of kentucky t-shirts. they hire a professional tie-dyer for $6.00 an hour who makes 20 t-shirts per hour. the following are needed to produce the shirts: dye, costing $1 per shirt, plain white t-shirts costing $1 each and an industrial washing machine for $1000.
the following represent fixed inputs in the short run for irving and gertrude:
1) professional tie-dyer and washing machine.
2) professional tie-dyer and dye.
3) retail shop and washing machine.
4) retail shop and t-shirts.

Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.

(a) what do you think will happen if the price of non-gm crops continues to rise? why? (b) what will happen if the price of non-gm food drops? why?

Juanita and sam attend a beach party and notice that the local beach appears to have a great deal more trash washed up on shore than it did when they were young. the water doesn't appear nearly as clear, and there seems to be less evidence of small water creatures living in the shallows. an afternoon at the local library convinces them that one major cause is the new factory nearby. after some discussion, they decide their next step should be identifying the cause of the changes identifying the problem picketing the guilty factory lobbying their elected representatives to complain about the problem talking to a local environmental group about solutions