Question: Must show working out please Question 2 Katch You (KY) has developed a new digital camera with an automatically triggered flash. This product was introduced

Must show working out please

Question 2 Katch You (KY) has developed a new digital camera with an automatically triggered flash. This product was introduced last year and a follow-up survey has just been completed, giving rise to the following regression equation: Ox =- 120.1366 - 83.78Px + 0.09Y - 25.45Pc + 81.39Ps + 0.1824Ax Where Qx is the quantity demanded; Px is the price per unit in dollars; Y is the income per capita, Pc is the price per unit for the camera's case and Ps is the price per unit (average) of other cameras; Ax is the advertising budget per month. The cost of production for each camera is $650.28 and the current price is $1, 101.99. The current values for the other variables are, Y = $800,000, Pc = $99.99, Ps = $899.99 and Ax $45,000 a) Determine if the markets are related. 5marks b) What is the revenue implication if there is an economic boom? . .....; 5 marks

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