Examlex
The two primary objectives of regression analysis are to study relationships between variables and to use those relationships to make predictions.
Output Effect
The change in total revenue resulting from selling more units at a lower price, in the context of price elasticity of demand.
Socially Efficient
An allocation of resources is considered socially efficient if it cannot be reallocated in a way that improves the wellbeing of one individual without worsening the situation of another.
Collude
To collaborate secretly and illegally with others with the aim of deceiving or obtaining an unfair benefit.
Controlling
The process of measuring performance and taking action to ensure desired results.
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