(.84) InQ 21.25lnP + 1.5lny + = 0.67lnS R² =.611 (.91) (.55) (.36) where Q = unit sales, P = price in dollars, Y = an index of regional income, and S = the price charged by a rival firm. Standard errors are in parentheses. a. Rewrite this equation (including numbers) to transform it out of the log-log form and back into multiplicative form.

(.84) InQ 21.25lnP + 1.5lny + = 0.67lnS R² =.611 (.91) (.55) (.36) where Q = unit sales, P = price in dollars, Y = an index of regional income, and S = the price charged by a rival firm. Standard errors are in parentheses. a. Rewrite this equation (including numbers) to transform it out of the log-log form and back into multiplicative form.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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