Refer to the Following What Are the Profit-Maximizing Prices for the Two Goods?
A)

question 33

Multiple Choice

Refer to the following: $$\begin{array} { l } P _ { X } = 666 - 0.5 Q _ { X } - 2 Q _ { Y } \\P _ { Y } = 484.5 - 1.5 Q _ { Y } - 0.25 Q _ { X } \\M C _ { X } = 20 + 2 Q _ { X } \\M C _ { Y } = 4 + Q _ { Y }\end{array}$$ What are the profit-maximizing prices for the two goods?

• A) \(P _ { X }\) = $375, \(P _ { y }\) = $284
• B) \(P _ { X }\) = $423, \(P _ { y }\) = $712
• C) \(P _ { X }\) = $166, \(P _ { y }\) = $324
• D) \(P _ { X }\) = $481, \(P _ { y }\) = $588

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Definitions:

Regression Line

A line that best fits a set of data points, representing the average relationship between an independent variable and a dependent variable.

Sum Of The Squared Residuals

The total value obtained by summing the squares of the differences between observed and predicted values, used in statistical analysis to measure the fit of a model.

Data Points

Individual measurements or observations collected during data gathering.

Residual Term

The difference between observed values and the estimated values in a regression model.