The owner of a company that makes souvenir T-shirts produces them at $2 each. He sells them for $5 each and tourists have been buying them at 4000 per month. He wants to raise the price and figures that for each $1 increase in price he will sell 400 fewer shirts each month. What price should he charge for each shirt to maximize profit?

Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate.a. after a long search, jon finds a job.b. tyrion, a full-time college student, graduates and is immediately employed.c. after an unsuccessful job search, arya gives up looking and retires.d. daenerys quits her job to become a stay-at-home mom.e. sansa has a birthday, becomes an adult, but has no interest in working.f. jaime has a birthday, becomes an adult, and starts looking for a job.g. cersei dies while enjoying retirement.h. jorah dies working long hours at the office.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

An allergy products superstore buys 6000 of their most popular model of air filters each year. the price of the air filters is $18. the cost of ordering and receiving shipments is $12 per order. accounting estimates annual carrying costs are 20% of the price. the supplier lead time is 2 days. the store operates 240 days per year. each order is received from the supplier in a single delivery. there are no quantity discounts. what is the store’s minimum total annual cost of placing orders & carrying inventory?