If the actual price in this market were above the equilibrium price, quantity supplied would be than quantity demanded, so there would be pressure on prices. true or false: if the actual price in this market were below the equilibrium price, suppliers could raise the price without losing sales.   true  false

Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?

What are two benefits of consumer programs

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.