The most frequently used method for estimating demand functions is:
A) market experiments.
B) consumer interviews.
C) regression analysis.
D) focus groups.
E) casual introspection.

Question

Quizplus · Accepted Answer

Regression analysis is the most frequently used method for estimating demand functions as it allows for the quantitative analysis of the relationship between demand and its determinants, such as price, income, and advertising. Market experiments, consumer interviews, focus groups, and casual introspection may provide useful information but are not as reliable or systematic as regression analysis in estimating demand functions.

The Most Frequently Used Method for Estimating Demand Functions Is