Mr. D’s Barbeque of Pickwick, TN produces 10,000
dryrubbed rib slabs per year. Annually Mr. D’s fixed
costs are 50,000. The average variable cost per slab is a
constant $2. The average total cost per slab then is
Which of the following is not a qualitative forecasting
technique?
If the price elasticity of demand for a product is -5, and
the income elasticity of demand for the product is 2.5. If a
0.5% decrease in product price as accompanied by a 1%
decrease in consumer income, the firm's total sales will
Which of the following would most likely make the
demand for an item more elastic?
The price of a firm's product increases from $5 to $6. As a
result, the quantity demanded of the product declines
from 600,000 to 500,000. The price elasticity of demand
for the good is equal to (Use the arc price elasticity of
demand)
Regression analysis was used to estimate the following
seasonal forecasting equation: St = 124 + 18 D1 - 46 D2 -
28 D3 + 2.5 T
D1 is a dummy variable that is equal to one in the first
quarter and zero otherwise; D2 is a dummy variable that
is equal to one in the second quarter and zero otherwise;
and D3 is a