2. The following data into Excel: P Q $4.80 1170 $4.53 1235 $3.98 1337 $3.72 1442 $3.49 1548 a. Run OLS to determine the inverse demand function (P = f(Q)); how much confidence do you have in this estimated equation? Use algebra to then find the direct demand function (Q = f(P)). b. Using calculus […]
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