Victor, a Population Analyst, Has the Following Data on an Excel

question 17

Multiple Choice

Victor, a population analyst, has the following data on an Excel sheet: month-wise population of a city in 2014 in column A and month-wise population of the same city in 2015 in columnB) He wants to calculate the change in population in 2015 compared to 2014 and check if the change is more or less than 2 million. Victor uses multiple functions, including the IF function, within a single formula for this analysis. In this scenario, Victor uses a _____.

• A)loop function
• B)nested function
• C)Web function
• D)Compatibility function

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Definitions:

Economic Profit

The total revenue of a business minus its explicit and implicit costs, representing the profit beyond the next best alternative use of resources.

Specific Firm

Refers to a particular company or business entity distinct from others in its industry or sector.

Demand Curve Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, indicating its sensitivity.

Brand Loyalty

A consumer's preference to buy a particular brand's product over alternatives consistently.