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Statistical methods are considered to be superior techniques of demand estimation because:
a. The element of subjectivity in this method is minimum,
b. Methods of estimation is scientific,
c. Estimation is based on the theoretical relationship between the dependents and independents variable ,
d. Estimates are relatively more reliable and
e. Estimation involves smaller cost.
Some Cost Considerations for Managers * Three guidelines for estimating the marginal cost(MC): 1) Average variable cost should not be used as substitute for the marginal cost(
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Gay Lussac''s law of gaseous volumes: While gases react with each other they always do so in volumes that bears a simple ratio to one and another or to the volumes of the products
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For the pizza seller whose marginal, average variable, and average total cost curves are shown in the following diagram, what is the profit-maximizing level of output and how much
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