For each of the explanatory variables, P, CP, M and PE, calculate the respective demand elasticities for Hind Oil Industries' product in the month September 2015. Remember to show all calculations. What additional information about Maa mustard oil do these values provide?

QD = 3934.25 - 121.15P + 113.49CP - 0.31M + 7.99PE + D where QD is the quantity of Maa mustard oil demanded, measured in kilograms.

The explanatory (independent) variables are P, Hind Oil Industries own price per kilogram of Maa Mustard Oil (measured in Indian rupees); CP, the average price per kilogram of competitors' mustard oil (measured in Indian rupees); M, the income level of consumers (measured in Indian rupees); and PE, promotional expenditure (measured in Indian rupees) of Hind Oil Industries.2 D is a set of 11 seasonal dummy variables with March being the base (excluded) month.

D = 53.66 for month of September 2015