The estimated demand curve for popsicles on a particular beach on a sunny summer day is given by

Q =130 3.5p,

where p is measured in dollars

What is the predicted quantity if p = $2.00 ?

The predicted quantity would be

Q= ____ popsicles. (Enter your response as a wholenumber.)

If the actual quantity demanded is 131 what is theresidual?

The residual would be ____ (Enter your response as a wholenumber.)

A variable that likely is incorporated in the error term is

A.

theweather.

B.

the minimum wage.

C.

the fixed cost of production.

D.

the variable cost of production.

E.

profit from popsicle sales.