If Excel estimates the demand function for a product to be: Q^d = 1,500 - (5 × P)and a price of $125 is charged, the predicted quantity demanded for the product is 875.

Name: If Excel estimates the demand function for a product to be: Q d = 1,500 - (5 × P)and a price of $125 is charged, the predicted quantity demanded for the product is 875.
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Quizplus · Accepted Answer

The demand function is Q^d = 1,500 - (5 × P). Substituting P = 125, we get Q^d = 1,500 - (5 × 125) = 1,500 - 625 = 875.

If Excel Estimates the Demand Function for a Product to Be