The following is a regression equation. Standard errors are in parentheses for the demand for widgets. QD       =          - 5200 - 42P + 20PX + 5.2I + 0.20A + 0.25M (2.002)  (17.5) (6.2)    (2.5)   (0.09)   (0.21) R2 = 0.55           n = 26               F = 4.88 Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables: Q          =          Quantity demanded of 3-pack units P (in cents)       =          Price of the product = 500 cents per 3-pack unit PX (in cents)     =          Price of leading competitor’s product = 600 cents per 3-pack unit I (in dollars)       =          Per capita income of the standard metropolitan statistical area (SMSA) in which the supermarkets are located = \$5,500 A (in dollars)     =          Monthly advertising expenditures = \$10,000 M                     =          Number of microwave ovens sold in the SMSA in which the supermarkets are located = 5,000

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