Exhibit 14-3.Consider the following sample regression equation ,where y is the demand for Product A (in 1000s)and x is the price of the product (in $). Refer to Exhibit 14-3.If the price of the good increases by $3,then we expect demand for Product A to
A)increase by 60.
B)decrease by 60.
C)decrease by 60000.
D)increase by 60000.

Question

Exhibit 14-3.Consider the following sample regression equation  ,where y is the demand for Product A (in 1000s)and x is the price of the product (in $). Refer to Exhibit 14-3.If the price of the good increases by $3,then we expect demand for Product A to
A)increase by 60. 
B)decrease by 60. 
C)decrease by 60000. 
D)increase by 60000.

Quizplus · Accepted Answer

The Answer of Exhibit 14-3.Consider the following sample regression equation  ,where y is the demand for Product A (in 1000s)and x is the price of the product (in $). Refer to Exhibit 14-3.If the price of the good increases by $3,then we expect demand for Product A to
A)increase by 60. 
B)decrease by 60. 
C)decrease by 60000. 
D)increase by 60000.