Question: Using the data in Table 3.1, estimate the cod demand function if we use only the first seven observations. Price, dollars per pound Quantity, thousand

Using the data in Table 3.1, estimate the cod demand function if we use only the first seven observations.

Price, dollars per pound                                                      Quantity, thousand pounds per day

1.90…………………………………………………………………………………………      1.5

1.35…………………………………………………………………………………………      2.2

1.25…………………………………………………………………………………………      4.4

1.20…………………………………………………………………………………………      5.9

0.95…………………………………………………………………………………………      6.5

0.85…………………………………………………………………………………………      7.0

0.73…………………………………………………………………………………………      8.8

0.25………………………………………………………………………………………… 10.1


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