Based on the Following Regression ANOVA Table,what Is the R2

question 84

Multiple Choice

Based on the following regression ANOVA table,what is the R2?

• A)0.1336
• B)0.6005
• C)0.3995
• D)Insufficient information to answer

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Definitions:

Long-run Equilibrium Price

The price level at which the quantity supplied equals the quantity demanded, achieved over a period where all inputs can be varied by producers.

Increase in Demand

A situation where there is a rise in consumers' desire to purchase goods or services, leading to higher quantity demanded at every price level.

Constant Costs

Occur when the cost of producing an additional unit of a good does not change as the scale of production increases or decreases.

Inferior Good

A type of good for which demand decreases as the consumer's income rises, reversing the typical behavior observed with normal goods.