Can you solve based on information? Coefficients 825.323 Intercept X Variable 1 -5.03159 X Variable 2 4.772655

Can you solve based on information?

Transcribed Image Text:

Coefficients 825.323 Intercept X Variable 1 -5.03159 X Variable 2 4.772655 X Variable 3 0.326108 X Variable 4 0.00854 You obtained the above coefficients in your regression on Soap Detergent. Variables 1-4 are as follows: Price of Detergent, Competitor's Price, Advertising, and Money income. The mean value of the variables are P=127, Price of Competitor= 87, Advertising-870 and Income is $46,788. A. Derive the firms demand, inverse demand, and Marginal Revenue equations. B. What is the optimal quantity of detergent, price and Total Revenue? C. Draw a Chart representing your findings. Coefficients 825.323 Intercept X Variable 1 -5.03159 X Variable 2 4.772655 X Variable 3 0.326108 X Variable 4 0.00854 You obtained the above coefficients in your regression on Soap Detergent. Variables 1-4 are as follows: Price of Detergent, Competitor's Price, Advertising, and Money income. The mean value of the variables are P=127, Price of Competitor= 87, Advertising-870 and Income is $46,788. A. Derive the firms demand, inverse demand, and Marginal Revenue equations. B. What is the optimal quantity of detergent, price and Total Revenue? C. Draw a Chart representing your findings.