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Ma. Lover Foolish is the CED of a company producing a new magical supplement Love is Strange. A marketing campaign promised an increase in intimacy
Ma. Lover Foolish is the CED of a company producing a new magical supplement "Love is Strange. A marketing campaign promised an increase in intimacy as you use this now supplement Ma. Foolish conducted a study to estimate the demand for "Love Is Strange" and found the following Let P(X) = price of Love is Strange, Ply] = the price of a cream: "Like is fun*; Me Income, A= Advertising expense, Of quantity demanded of "Love is Strange" Pix M 56.41 43 22 242 68 161.31 63.20 21.82 680.4 614.32 850 65.42 20.42 397:95 123.02 47.78 :37.78 603 22 1092 02 09 14.22 273 83 457,62 J.87 1:620,11 13072 810.69 037.15 46.01 10 08 101.03 81.21 208.69 12 35 31 73.82 358.82 501 80 47.07. 60.77 325 69 524,67 70 05 75.72 069-23 10:55 43.08 49.03 155.60 175.13 6.44 47.6 42.95 409 34 10462 1- Assuming that the demand is not near, use a log inear estimation to find the log Inear demand function 2. is the cream "Life is fun" a substitute or a complement good?. why? 3- Mi Foolish claimed that the demand function should be linear, Use a linger estimation method to find the linear demand function. Would your findings support a linear function? Why 4-Using the Inever domand function you donved in pant 3, if POO-50 , Ply)=15, M=1200. A:518, find the cross-price elasticity ED(X).P()
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