*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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