Question
Rawaea Ice Cream Factory is the only shop located in Jeddah, Mohammed is the son of the owner, He graduated soon from the Department of
Rawaea Ice Cream Factory is the only shop located in Jeddah, Mohammed is the son of the owner, He graduated soon from the Department of Business Administration, in this subject (Managerial Economics) Muhammad just studied medical analysis And he decided to apply what he had learned to estimate the demand for ice cream at his father's shop on summer vacation. Using regression analysis, Muhammad estimated the following demand function: Qi = 120 - 20Pi
Qi required amount of ice cream
Pi Price in dollars for ice cream
Required:
1. Demand schedule for prices from zero to 6 riyals
2. Demand curve graph
3. Finding and explaining the elasticity of demand at different prices.
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