A paint company has the following aggregate demand requirements and cost data for the upcoming year by quarter. 
a.Determine the change in workforce costs (hiring and firing employees) if the paint company decides to use a chase demand strategy.
b.Determine the inventory holding and backorder costs for the year if the paint company wants to use a level production strategy, ending Quarter 4 with no inventory.
Definitions:
Prosperity
A state of economic well-being characterized by high levels of income, employment, and production.
Depression
A severe and prolonged reduction in economic activity as occurred during the 1930s
Scarce Resources
Natural, human, and capital resources that are limited in supply, which necessitates choices about how they are allocated.
Unlimited Wants
The economic principle that humans have infinite desires or wishes for goods and services, despite having limited resources.
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