Question

Are all equations for the quantity of a demand curve just the Y=beta -alpha(X) from a linear regression test of the points of Q and P we know?

Answer 1

From simple linear regression point of view, the equation will be :

Y = Beta - Alpha*(X)

Here, Y is the dependent variable as quantity of product and X is the independent variable as Price of the product.

But, in a scenario, of multiple linear regression, a following equation will be used:

Y = Beta - Alpha*(X) + Alpha 2 * (X2) + Alpha 3*(X3)

In above equation, X2 can be the price of the substitute goods and X3 can be the income. While observing the relation between Q and P, X2 and X3 will be considered constant.