Q1. Research the current demand for a good or service of your choice. Collect information that will affect the demand for the good or service. From the activity, develop a regression equation using the data you collected from your research. Use the regression equation to focus the demand for the product you chose for the next three periods. Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitability.

Q2. Explain the cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output?