The forecasted sales
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The demand equation for the Widget Company has been estimated to be:
Qd = 30,100 +10I -50P +20Pc, where Q = monthly number of widgets sold, I = average monthly inocme, P = price of widgets, and Pc = average price of competing products.
(1) If next month's income is forecast to be 2,000, the price of competing products is forecast to be $25, and the price of widgets will be set at $35, forecast sales.
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The forecasted sales are predicted.
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Economics and management
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The demand equation for the Widget Company has been estimated to be:
Qd = 30,100 +10I -50P +20Pc, where Q = ...
Purchase this Solution
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