Use the following chart to complete this exercise.Q represents the quantity demanded and P represents the price level.

a)Graph the data using a spreadsheet such as Microsoft Excel or Apple Numbers.
b)Using the regression tool in Excel,regress price on quantity.
c)Using your equation,if the price per cookie was 30¢,what is the consumer surplus?
d)What is the elasticity of demand at this point?

Question

Use the following chart to complete this exercise.Q represents the quantity demanded and P represents the price level.
  
a)Graph the data using a spreadsheet such as Microsoft Excel or Apple Numbers.
b)Using the regression tool in Excel,regress price on quantity.
c)Using your equation,if the price per cookie was 30¢,what is the consumer surplus?
d)What is the elasticity of demand at this point?

Quizplus · Accepted Answer

The Answer of Use the following chart to complete this exercise.Q represents the quantity demanded and P represents the price level.
  
a)Graph the data using a spreadsheet such as Microsoft Excel or Apple Numbers.
b)Using the regression tool in Excel,regress price on quantity.
c)Using your equation,if the price per cookie was 30¢,what is the consumer surplus?
d)What is the elasticity of demand at this point?

Use the Following Chart to Complete This Exercise