课程: Economics: Quantitative Demand Analysis

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Using demand analysis for optimization with Excel Solver

Using demand analysis for optimization with Excel Solver

课程: Economics: Quantitative Demand Analysis

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Using demand analysis for optimization with Excel Solver

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- In a previous video, you calculated a demand function for an e-book, this is a great first step. In this video, you will learn how this regression function can become your goldmine, because it allows you to maximize your profitability. Specifically in this video, we will learn how to use a demand function for optimization with Excel Solver. As you remember, we calculated the demand for e-books as a function of the price. The output of the linear regression indicated the following demand function, demanding e-books equals 940.24 minus 92.6 multiplied by the price. The constant is 940 books, and the slope of the demand curve minus 92.6. This means that for every dollar price increase, the demand shrinks about by 93 books and vice versa. Now, we will use this function to optimize the price. Here I am in Excel version 365 for Windows 11, and before I can perform an optimization, I must load the add-on Solver I go to…

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