The McDonald’s fast-food restaurant on campus sells an average of 5,600 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 490 pounds of hamburger in stock. Assume that the hamburger patties cost $3 a pound and there are 52 weeks in a year. Required:
a. What is the inventory turnover for the hamburger patties?
b. On average, how many days of supply are on hand?

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold