List several fixed and variable costs associated with owning and operating an automobile. Suppose you are considering whether to drive your car or fly 1,500 miles to Florida over spring break. Which costs, fixed or variable, would you take into account in making your decision? Would any implicit costs be relevant? Explain in depth using numbers where available. Note, I do not care whether you would always fly or always drive, but I want you to use the tools learned in this chapter to analyze the costs.

Alocal club is selling christmas trees and deciding how many to stock for the month of december. if demand is normally distributed with a mean of 100 and standard deviation of 20, trees have no salvage value at the end of the month, trees cost $20, and trees sell for $50 what is the service level?

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

In risk management, what does risk control include? a. risk identification b. risk analysis c. risk prioritization d. risk management planning e. risk elimination need this answer now : (