CIMAPRO17-BA1-X1-ENGBA1 - Fundamentals of Business Economics Question Tutorial
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Last Updated Apr 23, 2024 Ace your exams with our consistently updated CIMAPRO17-BA1-X1-ENG exam dumps.
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CIMAPRO17-BA1-X1-ENG Online Practice Questions and Answers
A trade agreement that removes all import tariffs between member countries, sets up common external tariffs against non-members, but does not advance toward economic integration is called:
A. an economic union.
B. a customs union.
C. a free trade area.
D. a common market.
FILL BLANK
A magazine currently has a circulation of 500,000 copies per year at a price of $5 per copy. Following a market survey it has been suggested that the price of each copy should be reduced to $4.50. It is expected this will lead to an increase in
circulation of 25,000 copies per year.
What is the price elasticity of demand of the magazine?
A. +0.5
FILL BLANK
Company A uses the trend equation, y = a + bt, to forecast sales, where y are sales and t are time periods measured in units.
At time period zero, sales were $865,000. In period 5, sales have increased to $1,245,000.
Calculate coefficient b (without any decimal points):
A. 584
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