Which of the Following Are Costs of an Inaccurate Forecast

question 18

Multiple Choice

Which of the following are costs of an inaccurate forecast?

• A)Lost sales
• B)Inventory
• C)An understaffed office
• D)Lower profits
• E)All of the above

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Definitions:

Supply Elasticities

A measure of how much the quantity supplied of a good responds to a change in price, indicating the responsiveness of sellers to price changes.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the market equilibrium price.

Short-Run World Demand

Refers to the total quantity of a good or service that is demanded globally over a short period of time, with at least one factor of production held constant.

Citric Acid Cycle

Series of chemical reactions in which citric acid is converted into oxaloacetic acid, carbon dioxide is formed, and energy is released. The oxaloacetic acid can combine with acetyl-CoA to form citric acid and restart the cycle. The energy released is used to form NADH, FADH2, and ATP.