(Answered) Conlan enterprises has the following demand

Management Studies

Conlan Enterprises has the following demand function:

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 regression results are:

DEPENDENT VARIABLE:	Q	R-SQUARE	F-RATIO	P-VALUE ON F
OBSERVATIONS:	32	0.7984	36.14	0.0001
VARIABLE		PARAMETER ESTIMATE	STANDARD ERROR	T-RATIO	P-VALUE
INTERCEPT		846.30	76.70	11.03	0.0001
P		-8.60	2.60	-3.31	0.0026
M		0.0184	0.0048	3.83	0.0007
PR		-4.3075	1.230	-3.50	0.0016

What are the values for the own-price, income, and cross-price elasticities?

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Business Management, Management Studies

Category:- Business Management
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