Question: Consider the following sample regression equationy^= 203 + 8 x , where y is the supply for Product A (in 1,000s) and x is the

Consider the following sample regression equationy^= 203 + 8x, whereyis the supply for Product A (in 1,000s) andxis the price of Product A (in $). If the price of Product A increases by $3, then we expect the supply for Product A to

Multiple Choice

  • increase by 24,000
  • decrease by 24,000
  • increase by 24
  • decrease by 24

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