Using Excel, Best Paints Estimates the Log- Linear Weekly Demand

question 101

Multiple Choice

Using Excel, Best Paints estimates the log- linear weekly demand function for their gallon sized paints to be ln Q^d = 16.23 - (1.85 × ln P) . At a price of $35, what is the predicted natural logarithm of the quantity (ln Q ) ?

• A)0
• B)15,562.20
• C)9.65
• D)- 48.52

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