Using experimental data you ran the following, Ask an Expert

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Using experimental data, you ran the following regression:

Quantity = b0+b1*price+e1 The results showed b0=420, b1 = -3.

Then, wanting to learn about your costs, you than ran the following regression: Total costs = d0+d1*quantity+e2 The result showed d0=1500, d1=2

Based on this information, what price maximizes this profit?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92371182

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