A Regression Analysis Between Demand (Y in 1000 Units) and Price

question 73

Multiple Choice

A regression analysis between demand (y in 1000 units) and price (x in $) resulted in the following equation: estimated Y = 9 - 5x.This equation implies that if the price is increased by $1, the demand is expected to

• A)increase by 9000-5000 = 4000 units
• B)decrease by 9000 units
• C)decrease by 9000 + 5000 = 14,000 units
• D)decrease by 5,000 units
• E)none of the above

Understand the concept and mechanics of Vickrey auctions.

Comprehend bidder strategies in auctions without collusion.

Identify the highest bidder based on their valuations in English auctions.

Understand the impact of reservation prices on auction outcomes.

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