Question: Suppose D represents demand for a product and p represents price of the product. Suppose the following prediction equation for demand

Suppose " D " represents demand for a product and "

Suppose " D " represents demand for a product and " p " represents price of the product. Suppose the following prediction equation for demand was found based on data: D^=ap2.5 " a " is some constant. a) What is the interpretation of -2.5 ? b) Suppose price were to change from $50 to $52, what is the expected change (in \%) in demand? c) Suppose you find the best fitting model for demand to be D^=450000p2.5. If the price is $52, then what is the predicted demand

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