Assume that Q = quantity of pizza (in cents), X1 = price of pizza, X2 = tuition (in thousands of dollars), X3 = price of soft drinks (in cents), and X4 = location (1 for urban setting)

1. Assume that Q = quantity of pizza (in cents), X1 = price of pizza, X2 = tuition (in thousands of dollars), X3 = price of soft drinks (in cents), and X4 = location (1 for urban setting):

a. Estimate the linear demand function with Q as the dependent variable and X1 as the independent variable. Comment fully on the results and discuss the identification problem.
b. Estimate the linear demand function with Q as the dependent variable and X1, X2, X3, and X4 as the independent variables. Comment fully on the results. Calculate the elasticity of demand when X1 = 100, X2 = 10, X3 = 90, and X4 = 1. At what value of X1 do we have unitary elasticity (assume X2 = 10, X3 = 90, and X4 = 1)?
c. Take the natural logarithm of Q, X1, X2, and X3 (not X4) and estimate the exponential demand function (or Cobb-Douglas function). Comment fully on the results. What is the value of the price elasticity of demand? What is the value of the cross-price elasticity of demand?

Assume that Q = quantity of pizza (in cents), X1 = price of pizza, X2 = tuition (in thousands of dollars), X3 = price of soft drinks (in cents), and X4 = location (1 for urban setting):

Please help me with these questions!
1. Write the theoretical demand equation using the appropriate variable names you created when you prepared data for analysis. The variable names should be very short and must be in capital letters. For instance, QTY for Y, PRPIZZAfor X1, and PRSDRK for X3. For example, if you used QTY fo

Consider the market forpizza. Suppose that the market demandforpizza is given by the equation Qd = 300 - 20Pd and the market supply forpizza is given by the equation Qs = 20Ps - 100, Qd = quantity demanded, Qs = quantity supplied, Pd = price consumers pay (per pizza).
a. Graph the supply and demand schedules forpizza usi

The government levies an excise tax of 5 cents per unit sold on the sellers in a competitive industry. Both supply and demand curves have some elasticity with respect to price. This tax means that the:
A) supply curve shifts to the left by 5 cents, but (unless demand is perfectly elastic) price will not rise.
B) supply c

Pisa Pizza, a seller of frozen pizza, is considering introducing a healthier version of its pizzathat will be low in cholesterol and contain no trans fats. The firm expects that sales of the new pizza will be $20 million per year. While many of these sales will be to new customers, Pisa Pizza estimates that 40% will come from

A 10 oz. soft drink sells for 50 cents. A 16 oz sell for 68 cents. The price is determined from the volume v of the cup by a linear equation.
What is the equation and what would the cost of a 20-oz drink?

Create a class named Pizza. Data fields include a String of toppings (pepperoni, sausage, cheese, onions etc.) an integer for diameter in inches (such as 12, 14 or 16) and a double forprice such as 13.99, 15.99. 17.99). Include methods to get and set values for each of these fields. Save as Pizza.java
Create an application n

Qd= 317500-10000P
Qs= 2500+7500P
Q is pounds of scrap and P is in cents
15cents
16 cents
17 cents
18 cents
19 cents
20 cents
Need to complete the following for each PricePrice(1) Qs(2) Qd (3) surplus (+) or Shortage) (4=2-3)
15
16
17
18
19
20

The can industry is composed of two firms. Suppose that the demand curve for cans is
P=100-Q
Where P is the price(in cents) of a can and Q is the quantity demanded (in millions per month) of cans. Suppose that the total cost function of each firm is
TC=2+15q
Where TC is the total cost (in tens of thousands of dollars) per