Mark is an excellent cook. he does not have any formal training but learned to cook by following the recipes of several famous chefs and his mom. every weekend, he invites friends over for dinner so he can try new dishes and get honest feedback from his friends. mark wants to start his own restaurant someday because he thinks he would be successful and become wealthy. which of adam smith’s ideas made mark think of starting a restaurant?
a. invisible hand
b. self-interest
c. competition
d. laissez-faire

Thomas kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. thomas's fastest-moving inventory item has a demand of 6,000 units per year. the cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. the average ordering cost is $30 per order. it takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (this is a corporate operation, and the are 250 working days per year.)a) what is the eoq? b) what is the average inventory if the eoq is used? c) what is the optimal number of orders per year? d) what is the optimal number of days in between any two orders? e) what is the annual cost of ordering and holding inventory? f) what is the total annual inventory cost, including cost of the 6,000 units?

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.

China white was the black market selling of ivory, in which the profit was redistributed back into the trafficking of heroin.