The Following Linear Demand Specification Is Estimated for Conlan Enterprises,a $Q = a + b P + c M + d P _ { R }$

question 16

Multiple Choice

The following linear demand specification is estimated for Conlan Enterprises,a price-setting firm: $Q = a + b P + c M + d P _ { R }$ where Q is the quantity demanded of the product Conlan Enterprises sells,P is the price of that product,M is income,and $P _ { R }$ is the price of a related product.The results of the estimation are presented below: Given the above,at the 1% level of significance,the critical value of the t-statistic used by Conlan to test for statistical significance has _____ degrees of freedom and is equal to ________.

• A)32; 0.7984
• B)32; 36.14
• C)32; 4.57
• D)30; 2.750
• E)28; 2.763

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