1.If all factors that shift the supply curve were constant and yet prices and quantities changed, what would be identified in regression of price on

The difference between a dependent variable’s actual value for an observation and its average value Demand is described by -0.02Q+0.001A, where A is the industry-wide spending on advertising. Supply is described by +0.01Q. Calculate the equilibrium price if .

Answers must be within 0.2 of the actual value to be counted as correct. Do not include spaces, dollar signs, or plus signs.