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1. Survey 4 people on the maximum price they would be willing to pay for a product 2. Enter these in Excel or Google Spreadsheets

1. Survey 4 people on the maximum price they would be willing to pay for a product

2. Enter these in Excel or Google Spreadsheets and obtain the constant and slop in the linear regression predicting Qd from price (i.e., find a and b in the following equation Qd= a + bP where b is expected to be <0 (as per the law of demand)

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