In Business Forecasting, What Is Usually Considered a Short-Term Time

question 67

Multiple Choice

In business forecasting, what is usually considered a short-term time period?

• A) Four weeks or less
• B) More than three months
• C) Six months or more
• D) Less than three months
• E) One year

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Definitions:

Marginal Utility

The increased happiness or advantage received from using one more unit of a good or service.

Total Utility

The total satisfaction received from consuming a certain quantity of goods or services.

Marginal Utility

is the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Total Utility

The total satisfaction or benefit received by consuming a given total quantity of a good or service.