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Determine the inverse demand function

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Reference no: EM131281010

Run OLS to determine the inverse demand function (P = f(Q)); how much confidence do you have in this estimated equation? Use algebra to then find the direct demand function (Q = f(P)).

P

Q

$130

78

$110

155

$90

246

$70

318

$50

397

Reference no: EM131281010

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