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After collecting and analyzing data, and estimating a regression model, you have found the following demand equation for your company's product, which is Good A:
After collecting and analyzing data, and estimating a regression model, you have found the following demand equation for your company's product, which is Good A: OdA = 18,000 - 4PA + 3P3 + 6M. You have the information that P3 = $60, and M = $17,000. (Note that QdA is the quantity demanded of Good A, PA is the price of Good A, PB is the price of another product called Good B, and M stands for income available. In addition, note that the income enters the equation as $17,000.) What is the price intercept of this demand equation? $30,045 $51,000 $120,180 $18,000
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