The following table is used to lookup information on a specific product. The Product ID is entered into the box and the information is returned in the green box. What would the lookup formula need to be in C5 to return the information for the Product named in B2.
Definitions:
Long Run
A period in which all inputs, including physical capital and labor, can be fully adjusted, allowing for analysis of equilibrium and efficiency without the constraints of fixed factors.
Soft Drinks
Non-alcoholic beverage options, typically carbonated, that include flavors and sweeteners, such as colas and fruit-flavored sodas.
Price Elasticity
A metric indicating the sensitivity of an item's demand or supply levels to variations in its cost.
Budget Item
An individual expense or source of revenue that is accounted for in a financial budget.
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