Which of the following best represents management\'s objective(s) in utilizing d
ID: 1090926 • Letter: W
Question
Which of the following best represents management's objective(s) in utilizing demand analysis?
it provides insights necessary for the effective manipulation of demand
it helps to measure the efficiency of the use of company resources
it aids in the forecasting of sales and revenues
a and b
a and c
all of the above
1 points
Question 7
As the economy emerged from the most recent recession, household income rose by 6%. Over the same period, total expenditures on beef increased by 3%. Assuming that all other economic variables were held constant,
the income elasticity of demand must be equal to 2.
beef must be a normal good.
beef must be an inferior good.
Both A and B are correct.
As the economy descended into the most recent recession household income fell by 5%. Over the same period, total expenditures on automobile repairs increased by 3%. Assuming that all other economic variables were held constant,
the income elasticity of demand is equal to 0.6.
automobile repairs must be a normal good.
automobile repairs must be an inferior good.
Both A and B are correct.
1 points
Question 16
Price is insignificant
Income is significant
Temp is significant
As price rises for soda, people tend to drink less of it
All of the coefficients are significant
Please do not just guess !!!
it provides insights necessary for the effective manipulation of demand
it helps to measure the efficiency of the use of company resources
it aids in the forecasting of sales and revenues
a and b
a and c
all of the above
Explanation / Answer
it provides insights necessary for the effective manipulation of demand
Both A and B are correct.
automobile repairs must be an inferior good.
Income is significant
it provides insights necessary for the effective manipulation of demand
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