The table below shows two demand schedules for a given style of men's shoe-that is, how many pairs per month will be demanded at various prices at a men's clothing store in Seattle called Stromnord. D1 D2 Quantity Quantity Price Demanded Demanded $75 53 13 70 60 15 65 68 18 60 77 22 87 27 55 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1 b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? pair(s) of shoes What if the price is set at $55 for both months? pair(s) of shoes

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The table below shows two demand schedules for a given style of men's shoe-that is, how many pairs per month
will be demanded at various prices at a men's clothing store in Seattle called Stromnord.
D1
D2
Quantity
Quantity
Price
Demanded
Demanded
$75
53
13
70
60
15
65
68
18
60
77
22
87
27
55
Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and
will not receive any more pairs of this style until at least August 1
Transcribed Image Text:The table below shows two demand schedules for a given style of men's shoe-that is, how many pairs per month will be demanded at various prices at a men's clothing store in Seattle called Stromnord. D1 D2 Quantity Quantity Price Demanded Demanded $75 53 13 70 60 15 65 68 18 60 77 22 87 27 55 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1
b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how
many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes
in its inventory?
pair(s) of shoes
What if the price is set at $55 for both months?
pair(s) of shoes
Transcribed Image Text:b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? pair(s) of shoes What if the price is set at $55 for both months? pair(s) of shoes
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