Directions: Answer the below question in an excel spreadsheet please. Question: Abby’s candle shop sells candles. Abby would like to estimate her income and sales, she has collected data from the last two months. The cost of each candle is $1 and she sells them for $2.50 each. She receives her candles every day from her supplier, the supplier brings in 500 candles a day for Abby to sell. If Abby runs out of candles she estimates that an unhappy customer will cost her $0.50. If Abby has to keep the candles for the next day she has a holding cost of $0.25 per candle. The demand for candles is a uniform distribution of between 400 and 550 candles a day. Simulate 100 days of sales, find the average income, the average holding cost and the average loss in good will.

Exchange Across International Borders The success of an economy in effectively employing the four factors of production determines how well that economy performs relative to its potential and relative to other economies.  Address the following: Evaluate non-monetary benefits that open trade has contributed to the world since the end of World War II.  Provide at least 2 examples of the above benefits and explain why you believe each is important. Analyze how changes to U.S. trade and tariff policies affected U.S. trade with other nations.  Support your responses with recent (less than 2 years old) credible news sources.  The Global Role of the US Economy Consider that some politicians, labor unions, and special interest groups argue that U.S. trade deficits are harmful to the economy, and nations that run large trade surpluses with the United States are benefiting from unfair trade practices and agreements. These parties support increasing tariffs on imports and eliminating or rewriting trade agreements.  Analyze 2 credible economists’ opinions on the effects of the 2 of following factors with respect to the total U.S. trade balance. Find 1 economist who is less concerned about trade deficits, who thinks they are less important or that they mean something else is good (U.S. consumers have more disposable income for example). Then find another economist who is more concerned, (he or she may see a trade deficit as having adverse employment effects, for example). Weigh in their different perspectives and state whether you agree or disagree with their assertions, providing the logic behind your thinking. The factors to analyze include: Tariffs Changing trade agreements Manipulating exchange rates