332excel assignment 2 - D r. Tara Westerhold Econ 332 Excel...

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Dr. Tara Westerhold Econ 332 Excel Assignment #2: Regression Analysis (Elasticity) and Forecasting due Tuesday, July 21 st Part I: 1. Given the following demand equation create columns for price, quantity, total revenue, marginal revenue, and point price elasticity of demand for quantity ranging from 0 to 1800 in increments of 25 units (note: for TR and MR determine the algebraic equations and use the equations as a basis for determining the TR and MR numbers and for Ed there will be no definable elasticity at quantity equal to zero so you may need to begin your Ed formula associated with 25 units): Qd=2000-70P 2. Create a graph for your demand curve and a separate graph for total revenue. Your graph should mimic the graph created in class. Print these together on one page vertical aligned with one another. 3. Determine the revenue maximizing quantity and price algebraically (using the TR and MR equations you used in creating your data). Verify that your spreadsheet provides the same outcome and highlight this row of data in your spreadsheet (your
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This note was uploaded on 09/27/2011 for the course ECON 6000 taught by Professor Fayissa during the Spring '10 term at Middle Tennessee State University.

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332excel assignment 2 - D r. Tara Westerhold Econ 332 Excel...

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