Charles is training for a triathlon, a timed race that combines swimming, biking, and running. consider the following sentence: in order to swim for an hour, charles must take time away from work, where he earns $9 per hour. this is in addition to paying a $5 entrance fee for the pool. which basic principle of individual choice do these statements best illustrate? trade can make everyone better off people usually exploit opportunities to make themselves better off. the cost of something is what you give up to get it markets are usually a good way to organize economic activity

In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year.a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs.b. calculate the eoq.c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?