The chart shows the pricing history for two items. Which person saved the most money by buying a product at the right time? Carrie, who waited six months to buy a game system Timothy, who bought a game system right away because it was popular Eugene, who bought a phone immediately for fear they would sell out Marlene, who waited six months to buy a phone

Answer the following questions with true or false and provide a brief explanation (2- 3 sentences) a) economies of scale in production give rise to multi-product firms. b) ace hardware corporation is an example of economies of scale in production.

The distinction between a normal and an inferior good is

Suppose a ceiling fan manufacturer has the total cost function c(x) = 48x + 1485 and the total revenue function r(x) = 75x. (a) what is the equation of the profit function p(x) for this commodity? p(x) = (b) what is the profit on 35 units? p(35) = interpret your result. the total costs are less than the revenue. the total costs are more than the revenue. the total costs are exactly the same as the revenue. (c) how many fans must be sold to avoid losing money? fans