Choose the type of forecasting technique that would be most appropriate for predicting;The impact a price increase of 10 per cent would have on sales of orange marmalade.Answer 1The popularity of a new television series.Answer 2Demand for Mother’s Day greeting cards.Answer 3Demand for toothpaste in a particular supermarket.Answer 4Demand for vacations on the moon.

Forecasting techniques are used to predict future on the basis of past and present data. Different…

Answered: Choose the type of forecasting…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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By using the information below and with the help of MS Excel, please, find out the demand function and trend line (show in graph) PRICE QUANTITY DEMANDED (BUSINESS TRAVELERS) DEMANDED QUANTITY(VACATIONERS) 150 2100 1000 200 2000 800 250 1900 600 300 1800 400
If we have a cross-price elasticity of demand of CeD +7.5, which combination of products would best fit with this value? (a) Cabbages and cauliflowers (b) iPhone and iPhone charger (c) Washing powder (for clothes) and washing up liquid (for crockery/cutlery) (d) A chicken microwave meal and a vegetarian microwave meal
How would [1] a decrease in the price of flour and [2] an improvement in technology of pizza making would affect the market price and quantity of pizza, other things remaining constant? The price of pizza would drop and the equilibrium quantity would rise. The price of pizza would drop but the impact on the equilibrium quantity is uncertain. The equilibrium quantity of pizza would rise but the impact on price is uncertain. Both the price as well as the equilibrium quantity of pizza would rise.
Please assist
d) There is an increase in income e) taste increase for the good
if buyers expect the price of gasoline wil be higher in the future, the price of gasoline today______ and the quantity supplied today______A) fals; increasesB)fals: decreasesC) rises, decreasesD)rises: increases
Cross elasticity of demand measures the responsiveness of the demand for a good to: A) A change in the goods own price B) A change in the price of another good C) Changes in consumer income D) Changes in production technology
During the COVID 19 pandemic, the demand for personal protective equipment increased. What adjustments would the market make as a result that would benefit the economy? Group of answer choices The price of personal protective equipment would fall because producers could not meet the demand at lower prices. The price of personal protective equipment would rise, signaling to producers that more production was needed. The price of personal protective equipment would rise, signaling to consumers that they should purchase less personal protective equipment. The supply of personal protective equipment fell as production became more expensive.
Suppose the income elasticity of demand for furniture is 3 and the income elasticity of demand for physician services is 0.3. Compare the impact on furniture and physician services of a recession that reduces consumer income by 10%.
If the price elasticity of demand is 10, then for every 1% increase in price, there is a: Group of answer choices 10% increase in quantity demanded. 10% decrease in quantity demanded. 1% decrease in quantity demanded. 1% increase in quantity demanded.
Which of the following is not held constant when considering the demand for popcorn? Multiple Choice expectations of higher prices for popcorn the price of nachos (a substitute) the price of popcorn consumer incomes 4

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The impact a price increase of 10 per cent would have on sales of orange marmalade.	Answer 1
The popularity of a new television series.	Answer 2
Demand for Mother’s Day greeting cards.	Answer 3
Demand for toothpaste in a particular supermarket.	Answer 4
Demand for vacations on the moon.