The excel file is to run a regression for the demand equation. I run the regression, the result is shown below. You don’t need the excel file.
Please use the following regression results for your analysis:
1. Favored TV
Q = -8.882+1.793*ln(Income)
2. BASIC
Q = 11.988-0.207*ln(Income)
Use the above demand equations ( expressed in log) to get income elasticity and analyze the case.
TC = VC +FC
Profit = TR -TC
Attach both your reply to the memo and your work before you hit submit.
Please reply to the Memo and attach your work
