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About Engineering and Managerial Economics UPTU GBTU MTU Btech V Sem
This document discusses demand forecasting and production functions. It begins by defining demand forecasting as the estimation of demand for a product in a forecast period. It notes demand forecasting can be done at the micro, macro, or industry level. The objectives and significance of demand forecasting are then outlined. Next, the document defines a production function as the relationship between inputs and outputs. It discusses short-run and long-run production functions and the laws of variable proportions, returns to scale, and assumptions of production functions. Methods of demand forecasting and the steps involved in forecasting are also summarized.
Detailed Information
| Author: | ['Senthil Kumar'] |
|---|---|
| Publication Year: | 2014 |
| Pages: | 13 |
| Language: | English |
| Format: | |
| Price: | FREE |
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