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As the manager of your product, you are in the best position to provide a best professional guess for intercept "a", and slope "b". Describe the process by which you estimated intercept "a", and slope "b". This description crucially depends on fully understanding what these parameters mean and imply. Feel free to interpret and describe them for your product. Simply stating that the numbers are the intercept and slope will not give you any credit. Feel free to round the number so that you can work with it easily and that your calculations don't get overly complicated.
Once you have specified these parameters, please be sure to explicitly write the equation.
If my product is gaming mouses and my demand equation is P = 100 - 0.20Q, (Flat rate of $100 and $20 per piece) and how can I figure out this question?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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