Illustrates the criteria for good forecasting method
Illustrates the criteria for good forecasting method?
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For a good forecasting method must satisfy the given criteria:
• Plausibility: This must be reasonable or believable.
• Simplicity: This must be simple and easy.
• Economy: This must be less costly.
• Accuracy: This must be as accurate as possible.
• Availability: Relevant data must be easily obtainable.
• Flexibility: This must be flexible to adopt needed changes.
Define the term opportunity cost concept.
Write down the features of Marginal costing?
French toast and pancakes and both are close substitutes. Assume that good weather yields a bumper crop of pancakes and decreases the price of pancakes. Into the market for French toast: (1) equilibrium price and quantity both increase.(2) competition increases the su
To make a decision regarding resource hire, the firm should take as: (w) the price of the resource. (x) the productivity (Marginal Price) of the resource. (y) output prices. (z) All of the above. How can I solve my Economic
Explain the term average fixed cost.
When this purely competitive labor market is firstly in equilibrium at D0L, S0L, an increase within the price of output will result into equilibrium being attained at: (w) D0L, S0L. (x) D1L, S1L. (y) D2L, S1L. (z) D1L, S0L. Q : Operational or internal issues of What are the operational or internal issues of managerial economics?
What are the operational or internal issues of managerial economics?
The entire given can be used to calculate average profit except: w) marginal profit minus marginal cost. x) total profit divided by quantity. y) average revenue minus average total cost. z) price minus average total cost.
A firm's demand for labor would decrease when the: (1) price of the output rose. (2) labor supply curve shifted outward. (3) price of capital rose. (4) wage rate rose. (5) productivity of all workers fell. I need a
A purely competitive resource market shows that an individual firm faces a resource supply curve which is: (w) perfectly inelastic. (x) perfectly elastic. (y) downward sloping. (z) backward bending. Discover Q & A Leading Solution Library Avail More Than 1427496 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1928938 Asked 3,689 Active Tutors 1427496 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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