An early freeze in California sours the lemon crop. Illustrate the effect this has on the market for lemons. Demand Supply Price of Lemons Quantity of Lemons Demand Supply Consumer surplus in the market for lemons . Illustrate the effect the price change of lemons has on the market for lemonade. Demand Supply Price of Lemonade Quantity of Lemonade Demand Supply Consumer surplus in the market for lemonade .

Select the word from the list that best fits the definition sometimes

(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?

M. cotteleer electronics supplies microcomputer circuitry to a company that incorporates microprocessors into refrigerators and other home appliances. one of the components has an annual demand of 235 units, and this is constant throughout the year. carrying cost is estimated to be $1.25 per unit per year, and the ordering (setup) cost is $21 per order. a) to minimize cost, how many units should be ordered each time an order is placed? b) how many orders per year are needed with the optimal policy? c) what is the average inventory if costs are minimized? d) suppose that the ordering cost is not $21, and cotteleer has been ordering 125 units each time an order is placed. for this order policy (of q = 125) to be optimal, determine what the ordering cost would have to be.