Question: Using the data in the table below, estimate the demand function for cod Quantity, thousand pounds per day Price, dollars per pound 1.90 1.35 1.25

Using the data in the table below, estimate the demand function

Using the data in the table below, estimate the demand function for cod Quantity, thousand pounds per day Price, dollars per pound 1.90 1.35 1.25 1.20 0.95 0.85 0.73 2.2 5.9 6.5 7.0 8.8 Using the Excel trendline option to estimate a linear demand function, the linear demand function is Q = 12.53-6.25p Suppose the quantity in the first row of the table were 3 instead of 1.5 The linear demand function would now be a--Dp. (Enter your responses rounded to two decimal places.)

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