A critical trade-off which must be considered when choosing a forecasting technique is that between: C. cost and accuracy.
<h3>What is a
forecasting technique?</h3>
A forecasting technique can be defined as a process through which predictions can be made about the economy, especially based on macroeconomic and microeconomic conditions such as:
In Economics, cost and accuracy is a critical trade-off which must be considered when choosing a forecasting technique.
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These are the factors by how it shifts the current demand curve to a new position:
Shifts left
- 2% rebate on a Toyota Camry, a substitute good
- Big sale coming in three months
Shifts right
- Free brake inspections
- Consumers' income increases by 10%
Answer and Explanation:
When there is price fixing between two competitors, if one competitor chooses to fix the price it should not exceed competutors marginal cost and should be above his marginal cost.
Since the price fixing of $10 will be fined then the ideal price to maximize the profit would be below the competitors price $ and above his marginal cost $.
The ideak price to maximize profits would be (competitors price $ + his marginal cost $)/2, This price would be above his marginal cost and below competitors price.
Answer:
d. All ending inventory balances are zero.
Explanation:
Manufacturing overhead is an indirect cost which occurs when the production is done. Examples are Depreciation, Repairs and Maintenance etc.
All ending inventory balances are zero is the correct option because there is no opening balance and any change in net income is recorded in the balance sheet so, there will be no closing balance.
All production costs approach those costs that were budgeted, The sales mix does not vary from the mix that was budgeted and All manufacturing overhead is a fixed cost are all incorrect.
Answer:
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Explanation:
