Which of the following best explains the significant increases in the equilibrium prices for higher education in the United States since the 1980s? The supply of higher education is highly price elastic, and demand has increased substantially. The demand for higher education is highly price inelastic, and the supply has decreased substantially. The demand for higher education is highly price elastic, and the supply has decreased substantially. The supply of higher education is highly price inelastic, and demand has increased substantially.

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%of the world's population controls approximately % of the world's finances (the sum of gross domestic products)" quizlket

M. cotteleer electronics supplies microcomputer circuitry to a company that incorporates microprocessors into refrigerators and other home appliances. one of the components has an annual demand of 235 units, and this is constant throughout the year. carrying cost is estimated to be $1.25 per unit per year, and the ordering (setup) cost is $21 per order. a) to minimize cost, how many units should be ordered each time an order is placed? b) how many orders per year are needed with the optimal policy? c) what is the average inventory if costs are minimized? d) suppose that the ordering cost is not $21, and cotteleer has been ordering 125 units each time an order is placed. for this order policy (of q = 125) to be optimal, determine what the ordering cost would have to be.