Peterson Enterprises uses a fixed order quantity inventory control system. The firm operates 50 weeks per year and has the following characteristics for an item: Demand = 50,000 units/year Ordering cost = $35/order Inventory-carrying cost as a percent of item value = 25% Item (Unit) value = $8 Lead time = 3 weeks Standard deviation in weekly demand = 125 units Calculate the economic order quantity (EOQ) for this item?

Alaska king crab fishing in the 1960s and '70s was a dangerous but rich fishery. boats from as far away as california and japan braved the treacherous gulf of alaska crossing to reach the abundant king crab beds in cook inlet and bristol bay. suddenly, in the early 1980s, the fishery crashed due to over fishing. all crabbing in those areas ended. to this day, there is no crabbing in bristol bay or cook inlet. a. how would an economist explain the decline of the alaska king crab fishery