How is scarcity related to competition?
competition is an effect of scarcity.
scarcity is an effect of competition.
both scarcity and competition are effects of a rationing device.
both scarcity and competition are effects of opportunity cost.
scarcity produces disutility and competition produces utility.

Henry crouch's law office has traditionally ordered ink refills 7070 units at a time. the firm estimates that carrying cost is 4545% of the $1212 unit cost and that annual demand is about 245245 units per year. the assumptions of the basic eoq model are thought to apply. for what value of ordering cost would its action be optimal? a) for what value of ordering cost would its action be optimal? its action would be optimal given an ordering cost of $nothing per order (round your response to two decimal place

In macroeconomics, to study the aggregate means to study blank

Melissa buys an iphone for $240 and gets consumer surplus of $160. a. what is her willingness to pay? b. if she had bought the iphone on sale for $180, what would her consumer surplus have been?