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

question 55

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,which estimates are statistically significant?

• A)All are statistically significant
• B)All but \(\hat { a }\) are statistically significant
• C)Only \(\hat { a } , \hat { b } \text {, and } \hat { c }\) are statistically significant
• D)Only \(\hat { a }\) is statistically significant
• E)All but \(\hat { b } \text { and } \hat { d }\) are statistically significant

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