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This is also known as sales force Opinion Method. In this method instead of consumers the opinion of the salesmen is sought. It is sometimes referred as the grassroots approach as it is a bottom up method that requires each sales person in the company to make an individual forecast for his or her particular sales territory. These individual forecasts are discussed and agreed with the sales manager. The composite of all forecasts then constitutes the sales forecast for the organization.
Average Fixed Cost (AFC): AFC is the fixed cost per unit of output. AFC = TFC/y Since the TFC is constant throughout the short run, as y increases AFC will decline. Therefore
Allocative efficiency criteria are satisfied by the competitive model. Because P = MC, in each market in the economy there is no over- or under- allocation of resources in this ec
define real and nominal wages
how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of consumer
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introduction of production
Problem 1: a. Briefly explain and distinguish between a centrally planned, laissez-faire and mixed economy. b. According to you, which type of economic system is most desira
Lack of Integration in Policy Formulation and Policy Implementation: A common thread uniting these diverse diagnoses and prescriptions can be seen among most of the critical e
use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labour on an increase in immigration..
Theory of Oligopoly: Oligopoly is that situation where the number of firms in the market is large but not as large as in the case of perfect competition so that it is possible for
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