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DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F     64 0.8093 0.0001             INDEPENDENT VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20  4.01 2.04 0.0461           PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 9. Calculate the price elasticity, cross-price elasticity, and income elasticity of demand for cement. Explain these figures.  Q = f( P, M, PR) where Qc =  demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.

DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F     64 0.8093 0.0001             INDEPENDENT VARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20  4.01 2.04 0.0461           PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 9. Calculate the price elasticity, cross-price elasticity, and income elasticity of demand for cement. Explain these figures.  Q = f( P, M, PR) where Qc =  demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.

Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter1: Introducing The Economic Way Of Thinking
Section1.A: Applying Graphs To Economics
Problem 6SQ
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DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F  
  64 0.8093 0.0001  
         
INDEPENDENT
VARIABLE

PARAMETER

ESTIMATE

STANDARD

ERROR

T-RATIO

P-VALUE
INTERCEPT 8.20

 4.01

 2.04 0.0461
         
PC -3.54 1.64 -2.16 0.0357
M 0.64287 0.19 3.38 0.0014
PA 0.7854 0.38 2.07 0.0439

9. Calculate the price elasticity, cross-price elasticity, and income elasticity of demand for cement. Explain these figures.

 Q = f( P, M, PR) where Qc =  demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard.

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