The rising popularity of bubble and squeak as a breakfast item on the menu has resulted in a steady demand for peas. over the course of the past week, 457 patrons have ordered the hearty breakfast and each serving contains a cup of english peas. it costs two cents to hold a cup of peas in inventory for a year and $3 to place an order (remember they come all the way from it takes two weeks to ship a container from england loaded with peas. what is the optimal order quantity? what is the average inventory if they order at the optimal order quantity? how many orders per year does the diner place if they order at the economic order quantity? what is the average flow time of a cup of peas if the diner orders at the economic order quantity?

Ange in supply or (ii) a movement along the supply curve. a. during a real estate boom that causes house prices to rise, more homeowners put their houses up for sale. b. many strawberry farmers open temporary roadside stands during harvest season, even though prices are usually low at that time. c. immediately after the school year begins, fewer young people are available to work. fast-food chains must raise wages, which represent the price of labor, to attract workers. d. many construction workers temporarily move to areas that have suffered hurricane damage, lured by higher wages. e. since new technologies have made it possible to build larger cruise ships (which are cheaper to run per passenger), caribbean cruise lines have offered more cabins, at lower prices, than before. 2. in the following three situations, the market is initially in equilibrium. after each event described below, does a surplus or shortage exist at the original equilibrium price? what will happen to the equilibrium price as a result? a. in 2010 there was a bumper crop of wine grapes. b. after a hurricane, florida hoteliers often find that many people cancel their upcoming vacations, leaving them with empty hotel rooms. c. after a heavy snowfall, many peop