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What is the forecast for July based on a three-month weighted moving average applied to the following past demand data and using the weights: 6, 4, and 2 (largest weight is for most recent data)? Show all of your computations for April through July.
Transitive
A relation is described as transitive if, whenever it relates some A to B and B to C, it also relates A to C.
Marginal Rate of Substitution
The rate at which a consumer is willing to give up one good in exchange for another good while maintaining the same level of utility or satisfaction.
Perfect Substitutes
Two goods for which consumers are completely indifferent as to which to consume, meaning the consumption of one good can fully replace consumption of the other.
Perfect Complements
Goods that are often consumed together in fixed proportions, such that demand for one increases demand for the other.
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