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QUESTION
SUMMARY OUTPUT Regression Statistics Multiple R 0.987424 R Square 0.975006 Adjusted R 0.974715 Standard E 26693.48 Observatio 88 ANOVA df Regression...
- 1. Estimate total costs as a function of quantity using a linear regression.
- 2. Use your estimates of total costs to find marginal costs.
- 3. From your previously estimated demand, find marginal revenue.
- 4. Find the profit-maximizing quantity and price.
- 5. Report your first price recommendation
