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Jim Bradley is the manager of the Bradley bakery. He has collected data on his store for the past year. He developed a model he thinks describes sales at the bakery.

Qt=5,000-1,000Pt+10At+1.5Yt-400Pc t-25Ac, Qt=unit sales in week t, Pt=price in week t, At=advertising in week t, Yt=per capita income of local census tract in week t, Pc t= price charged by competition in week t, and Ac t=advertising by competitor in week t. Jim doesn't want to run the numbers again himself. He wants to use the results to plan for total sales next year. What do you tell Jim about the results of his analysis?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946485

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