Problem

In the profit model in this section, we used the power curve to relate demand and price...

In the profit model in this section, we used the power curve to relate demand and price because it has the lowest MAPE. However, the exponential curve was not far behind. Rework the profit model using the exponential curve to relate demand to price. Write a brief memo indicating whether you get basically the same results as with the power curve or you get substantially different results.

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