Three basic questions of economics are: a. Why? How? What? b. What? How? For Whom?
c. What? Where? When? d. What? How? Where

Atoy manufacturer makes its own wind-up motors, which are then put into its toys. while the toy manufacturing process is continuous, the motors are intermittent flow. data on the manufacture of the motors appears below.annual demand (d) = 50,000 units daily subassembly production rate = 1,000setup cost (s) = $85 per batch daily subassembly usage rate = 200carrying cost = $.20 per unit per year(a) to minimize cost, how large should each batch of subassemblies be? (b) approximately how many days are required to produce a batch? (c) how long is a complete cycle? (d) what is the average inventory for this problem? (e) what is the total annual inventory cost (holding plus setup) of the optimal behavior in this problem?

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.