Question: Refer to Table 2. Forecast the quantity demanded, assuming P = $20, M = $50,000, and PR = $100 A- $9500.4 B- $8935.40 C- $9765

Refer to Table 2. Forecast the quantity demanded, assumingP= $20,M= $50,000, andPR= $100

A- $9500.4

B- $8935.40

C- $9765

D- $3350.6

Refer to Table 2. Forecast the quantity demanded, assumingP= $20,M= $50,000, andPR=

Table 2 The following demand function for a price-setting firm selling good X was estimated using standard regression analysis: Q =a+ bP + cM + dPr The estimation results are: REFENEENT YRS, G R2=.9765 Adjusted R2=.8713 OBSERVATIONS: 275 PARAMETER STANDARD VARIABLE ESTIMATE ERROR P-VALUE INTERCEPT 95004 33506 0.0049 -12.75 4.30 0.0044 -0.0163 0.0066 0.0135 5.05 1.10 0.0001 P = Price of Good X M = Average Household Income PR = Price of Related Good

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