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If we do not have quantitative data to make predictions, there are several qualitative techniques which can be used instead. According to our textbook, "The greatest value of survey and opinion-polling techniques is that they may help to uncover if consumer tastes are changing or if business executives begin to lose confidence in the economy; survey techniques may be able to uncover these trends before their impact is felt." (McGuigan, Moyer, & Harris, 2014, p.157). An example of a survey that could be used in this situation is to poll their sales force. The logic behind a company polling their own sales force is that these employees may have meaningful insights into how well sales will do due to the nature of their job. Another example mentioned in the scenario is the use of the Delphi method. The Delphi method involves surveying a panel of experts for their opinions. In this case, experts could include independent economists.
Do you think the results of the employees' polling would be biased? Why and why not?
illustrate the following with supply and demand curves. for each include 1-3 sentences explaining your graph. for full
answer the question on the basis of the following cost data for a purely competitive sellernbspnbspnbspnbspnbspnbspnbsp
Banca Hakala purchases two front row concert tickets over the Internet for $90 per seat. One month later, the rock group announces that it is dissolving due to personality conflicts and the concert that Hakala has tickets for will be the “farewellâ..
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450 and If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.
Lambert-Rogers Co. is a manufacturer of petrochemical products. The firm's research efforts have resulted in the development of a new auto fuel injection cleaner that is considerably more effective than other products on the market.
1. assume that the market demand is given by pq 100 - q and that the cost functions of the two firms in the industry
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If P=100 - 2Q, and P=80, what is the point elasticity?You sell bracelets online. The demand for these bracelets is:P=120 - 2Q
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When the price of a commodity falls by Rs.2 per unit,its quantity demanded increases by 10 units. Its price elasticity of demand is (-)1. Calculate its quantity demanded at the price before change which was Rs.10 per unit. You may change Rupee[In..
When the economy is operating at full employment, why is an increase in aggregate demand not helpful to the economy? When the economy is hit with a supply shock, such as oil prices rising from $25 a barrel to $75 a barrel, why is this double disrupti..
An engineer borrowed $3000 from the bank, payable in six equal end-of-year payments at 8%. The bank agreed to reduce the interest on the loan if interest rates declined before the loan was fully repaid.
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