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Regression equation

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Reference no: EM131589526

Need help solving equilibrium price and quantity for Econ 550 class. I am having problems computing.

Regression Equation: QD = - 5200 - 42P + 20PX + 5.2I + .20A + .25M

= -5200 - 42 (500) + 20 (600) + 5.2 (5500) + .20 (10000) + .25 (5000)

QD = 38650 - 42P

Quantity demanded = 17,650

Quantity Supply equation: Q = -7909.89 + 79.1P

Reference no: EM131589526

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