) David also sells cakes at the store. Assume the cakes retail at $5 per cake, but David only pays $2 per cake. Cakes cannot be sold after one week, and they have a negligible salvage value. David estimates that the weekly demand for cakes is: 15 cakes in 10% of the weeks, 16 cakes in 20% of the weeks, 17 cakes in 25% of the weeks, 18 cakes in 20% of the weeks, 19 cakes in 15% of the weeks, and 20 cakes in 10% of the weeks. How many cakes should David order

Consider the market for gas-powered small cars. assume gas-powered small cars are a normal good. for each of the following events, identify which of the determinants of demand or supply are affected. if demand is unaffected by this event because it creates only a supply change, select the “none” option under the “demand determinant” column. similarly, if supply is unaffected by this event because it creates only a demand change, select the “none” option under the “supply determinant” column. event demand determinant supply determinant people decide to have more children. the price of electric small cars falls. the discovery of a new source of iron ore lowers steel prices. an economic recession lowers people’s wealth. a number of major car dealers decide to switch from selling gas-powered cars to selling electric cars. show the effect of the following event on the market for gas-powered small cars: people decide to have more children for each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.