Even though insignificant explanatory variables can raise the adjusted R2 of a demand function, one should not interpret their effects on the regression when
a. testing marketing hypotheses about the determinants of demand
b. analyzing inventory relative to capacity requirements
c. forecasting unit sales for operations planning
d. sales revenue reaches its peak
e. planning for capital budgets
a
Economics
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The various combinations of goods and services that can be produced, when an economy uses its available resources and technology efficiently, is called:
a. scarcity. b. opportunity cost. c. unlimited production. d. capital accumulation. e. production possibilities.
Economics
Which of the following is a characteristic of a monopoly?
a. a large number of sellers b. homogeneous products c. large barriers to entry d. price taking firms
Economics