Answer:
Test marketing.
Explanation:
Test marketing is an experimental tool used by manufacturers to test the viability of their products under typical market conditions, comprised of stores and real life buying situations, in order to determine its sales performance and ascertain its acceptability by consumers.
Hence, Marin's Cleaning Supplies Company when doing business analysis should consider test marketing strategy when deciding whether to develop the cleaner.
Answer:
There is a shortage of the product.
Explanation:
The market demand curve is downward sloping indicating a negative relationship with price. While the market supply curve is upward sloping indicating a positive relationship with price.
At the market equilibrium, both demand and supply are equal. At a price below the equilibrium level, the market demand is greater than supply. This causes a shortage in the economy.
Sorry, what does this mean?
Answer:
Answer is the one which produces values which compare well with actual values based on a standard measure of error.
Explanation:
Exponential smoothing is one means of preparing short-term sales forecasts on a routine basis. To use exponential smoothing, however, one must decide the proper values for the smoothing constants in the forecasting model. One method for selecting the smoothing constants involves conducting a grid search to evaluate a wide range of possible values.
Exponential smoothing forecasting methods use constants that assign weights to current demand and previous forecasts to arrive at new forecasts. Their values influence the responsiveness of forecasts to actual demand and hence influence forecast error. Considerable effort has focused on finding the appropriate values to use.
One approach is to use smoothing constants that minimize some function of forecast error. Thus, in order to select the right constants for forecasting, different values are tried out on past time series, and the ones that minimize an error function like Mean Absolute Deviation (MAD) or Mean Squared Error (MSE) are the ones used for forecasting
Suppose the economy is in the long run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes then in the short run, real GDP will
- fall and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be lower.
Given that this economy is in the long run equilibrium. Given a sharp increase in minimum wage and taxes, then real GDP will decrease in the short run as well as the price level.
In the long run it may stay the same. But the Real GDP will definitely be lower.
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