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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.
three marginal conditions of pareto optimality
Suppose a firm faces two markets for the same product. In market A, the demand function is PA=60-QA, while in market B the demand function is PB=36-0.5QB. The total cost function i
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Arbitration The use of a third party to describe between two sides dead locked in a negotiation. The arbitrator's decision can be binding or not binding, as before agreed upon
characteristic of duopoly
#q The price of a laptop increases by 20% and there is a 40% drop in the quantity demanded. • The price of a pack of cigarettes increases by 10% and there is a 5% drop in the quan
explain how microeconomic and macroeconomic issues may be represented using the production possibility curve
Problem 1: Write short notes on all of the following: (a) Log Linear regression model (b) Lin-Log regression model (c) Individual versus Overall Significance Probl
What is inflation gap
Social cost: Social cost of production refers to the cost incurred by a society when its economic resources are used to produce a given commodity. The usage of a society’s res
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