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No demand forecasting method is 100% accurate. Collective forecasts develop precision and reduce the probability of huge mistakes.
Methods which relay on Qualitative Assessment:
Forecasting demand based on expert opinion. A number of the types in this method are:
if market demand is Q= 30 - 3P how do you write the marginal revenue function as a function of Q
Explain the limitations of managerial economics
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why demand curve slopes down
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