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The following linear demand specification is estimated for Conlan Enterprises, a price- setting firm: Q = a + bp + cM + dPR where 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: DEPENDENT Q R-SQUARE F-RATIO P-VALUE ON F VARIABLE: OBSERVATIONS: 32 0.7984 36.14 0.0001 PARAMETER STANDARD T- P- VARIABLE ESTIMATE ERROR RATIO VALUE INTERCEPT 846.3000 76.7000 11.03 0.0001 P -8.6000 2.6000 -3.31 0.0026 M 0.0184 0.0048 3.83 0.0007 PR -4.3075 1.2300 -3.50 0.0016 Assume that the income is $10,000, the price of the related good is $40, and Conlan chooses to set the price of this product at $30. At the prices and income given above, what is the income elasticity? O 0.21Assume that the income is $10,000, the price of the related good is $40. and Conlan chooses to set the price of this product at $30. At the prices and income given above, what is the income elasticity? o 0.21 o 0.87 (Q 0.31 o 1.62 o 1.50