*3.3 In the Camry focus group analysis in this chapter, we use a regression to estimate the...
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*3.3 In the Camry focus group analysis in this chapter, we use a regression to estimate the demand for Camrys. Using that equation, how many fewer Camrys would the focus group buy if the price were increased by $1,000? How many Camrys would we expect the focus group to purchase if the price is
$20,000? What is the elasticity of demand if the price is $20,000?
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Managerial Economics And Strategy
ISBN: 9780135640944
2nd Global Edition
Authors: Jeffrey M. Perloff, James A. Brander
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