You have responsibility for economic policy in the country of freedonia. recently, the neighboring country of sylvania has cut off all exports of oranges to freedonia. george, who is one of your advisors, says that the best way to avoid a shortage of oranges is to take no action at all. charles, another one of your advisors, argues that without a binding price floor, a shortage will certainly develop. otto, a third advisor, suggests that you should impose a binding price ceiling in order to avoid a shortage of oranges. which of your three advisors is most likely to have studied economics?

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?