The following linear demand specification is estimated for Conlan Enterprises, a price-setting firm:Q = a + bP +cM +dPRwhere Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR 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. Only a?, b, and c? are statistically significant
B. All are statistically significant
C. Only a? is statistically significant
D. All but a? are statistically significant
E. All but b and d are statistically significant
Answer: B
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