________ Is an Extension of Goal-Seeking Analysis in Which the User

question 96

Multiple Choice

________ is an extension of goal-seeking analysis in which the user can change many variables to reach some maximum or minimum target, as long as the changes stay within the constraints the user identifies.

• A)What-if analysis
• B)Predictive analysis
• C)Forecasting
• D)Optimization

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, reflecting additional benefit to producers.

Tariff

A tariff is a tax imposed by a government on imported or exported goods, often used to protect domestic industries or to generate revenue.

Trade

The exchange of goods, services, or both, between parties, either within an economy or between economies.

Price

The amount of money expected, required, or given in payment for something, reflecting its value, cost of production, and market demand.