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Economics

Find below regression output for a demand equation where "p" is own price, "pc" is the price of a compliment, and "ps" is the price of a substitute and "I" is income.

a) Which variables are statistically different fro zero? Why?

b) How about the overall goodness of fix?

c) Write the basic demand equation when, "pc=60", "ps=$2.00" and I=37

d) How does this equation written in part c above relate to basic demand theory?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91229165

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