Assume the regression equation is y=$75 + $25x and we are predicting the weekly grocery expenditures where x=number of family members. How much would a family of 4 spend on groceries per week?

The changes in prices of other products affect the demand for an item. This is a phenomenon called ________

A) cross-elasticity of demand B) complementary elasticity C) interdependent elasticity D) parallel elasticity E) variable demand

A firm would be most likely to use backward invention in which of the following situations?

A) when it needs to offer a less complex product in a foreign market than it sells elsewhere B) when it has decided to rely on a straight extension strategy C) when it first markets a product internationally D) when it participates in a free trade zone E) when it relies on the practice of dumping