Hi all,
I have never come across a skewed issue like deriving optimal selling price. Can you explain why the Quantity demanded and Price forecasted does not generate profits with different levels of inputs?
Problem in excel file
Txs
ok, thanks for all your help and replies. I have sorted out the problem today and found out
Regression Cost function Y= a + b X forecasts total costs but they are not equal to MC=MR derived from demand curve equation MR=MC.
Also, found out that, Constants a, b from regression output will not give accurate results when used to define MR=MC function.
txs
Can download the excel answer
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