Illustrates the Expert Opinion method of Demand Forecasting
Illustrates the Expert Opinion method of Demand Forecasting?
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Expert Opinion: Apart from consumers and salesmen, distributors or outside professionals may also be used for forecast. Firms in advanced countries as USA and UK, utilize outside experts for estimating future demand. Different public and private agencies sell periodic forecast of long or short term business conditions.
Inefficiency may exist within a labor market while a firm only hires labor up to a certain point where: (w) the value of labor’s marginal product equals the wage rate. (x) VMP > MRC. (y) MPPL = w/P. (z) the last unit of labor adds as much to
Increasing the wage rate increases total wages received through workers when the demand for labor is: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) perfectly elastic.
Define the term business forecasting briefly.
Illustrates the term long run production function?
Illustrates the demand schedules important for law of demand? Answer: The perception of law of demand may be explained along with the demand schedules are as follow:
What are the merits and demerits of Scarcity Definition of economics?
Provide a brief introduction of the term Margin of Safety?
Screening and signaling are attempts to: (w) decreases job interview time. (x) decrease the problem of adverse selection. (y) uphold equal opportunity laws. (z) All of the above. I need a good answer on the topic o
States the Scarcity Definition in economics?
Illustrates the role of cost in pricing?
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