[Solved] The lag length in a VAR using the BIC proceeds as follows: Among a set of candidate values of p, the estimated lag length <sub>xxx</sub>is the value of p A)For which the BIC exceeds the AIC B)That maximizes BIC(p) C)Cannot be determined here since a VAR is a system of equations, not a single one D)That minimizes BIC(p) Unique Product: A product that is distinct in its features, functionality, or branding, setting it apart from competitors' offerings. Cost Leadership Strategy: A business strategy focused on gaining competitive advantage by being the lowest cost producer in the market while maintaining acceptable quality levels. Low Prices: A pricing strategy where goods or services are offered to consumers at a lower cost compared to competitors. Focused Differentiation Strategy: A business approach that targets a specific segment of the market by offering unique features that satisfy the particular needs of that segment.