Suppose a demand equation was estimated using the Regression technique. The explanatory variables included in the equation were price of own good, price of substitute good, income of consumers and expected future price. What test will be used to test if each of the explanatory variables were statistically significant?A 50% reduction of price of X led to a 75% decrease in demand of Y. This indicates What ?Explain

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1 To test if each of the explanatory variables price of own good price of substitute good income of consumers and expected future price is statistical... View the full answer