The Figure Below Shows the Supply and Demand Curves for Jeans

question 69

Multiple Choice

The figure below shows the supply and demand curves for jeans in Smallville. At a price of $60 per pair, there will be an excess ______ of ______ pairs of jeans per day.

• A)supply; 24
• B)supply; 16
• C)demand; 16
• D)demand; 8

Understand the initial steps in examining the number and capabilities of employees and managers within an organization.

Comprehend the key stages in human resources (HR) forecasting, including determining HR demand and supply.

Identify the processes involved in addressing HR shortages and surpluses.

Recognize the use and significance of linear programming within project analysis.

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Definitions:

Optimal Solutions

The best possible outcomes or results that satisfy all constraints in a given mathematical model or real-life problem.

EOQ Principles

Economic Order Quantity principles involve calculating the optimal order size to minimize the costs related to ordering, receiving, and holding inventory.

Operations

The activities and processes used to produce goods and services in an efficient and effective manner.

Interactive Effects

The combined impact on outcomes resulting from the interaction of two or more variables.