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
Related questions
Question
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 |
3. What can you say about the relationship between cement and asphalt? Why?
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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