A company is deciding where to assign its summer intern. The manager estimates that the intern can save $10,000 in the supply chain or increase sales (revenue) by $25,000. If sales (revenue) is divided into the three categories shown in the table where should the manager assign the intern to maximize profits?
Definitions:
Demand Increases
A situation where the desire and ability to purchase goods and services in a market rise, often leading to higher prices if supply remains constant.
Supply Decreases
A reduction in the quantity of a good or service that producers are willing to sell at a given price, often resulting in higher prices.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity demanded equals the quantity supplied.
Rent Ceiling
A government-imposed limit on how high rents can go, aimed at keeping housing affordable.
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