The Last-Value Forecasting Method

question 32

Multiple Choice

The last-value forecasting method:

• A) is quick and easy to prepare.
• B) is easy for users to understand.
• C) ignores all values except one.
• D) All of the answers choices are correct.
• E) None of the answer choices is correct.

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Definitions:

Economic Profit

The net outcome of subtracting all expenses, both overt and hidden, from a corporation's aggregate earnings.

Short Run

A period during which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust to changes in market demand or supply.

Quantity

The amount or number of a material or immaterial good that is considered as a unit or an aggregate.

Shut-down Point

The level of operation at which a company does not benefit from continuing operation and incurs losses by staying in business.