managerial economics! Please answer the next 3 questions IN DETAIL. Give your steps and explanations!

I have provided the solutions to all 3 questions, I just need you to explain why the statements are T or F (given the answers):

Louisville Slugger Company, produces nearly 80% of all baseball bats purchased in the United States. Louisville Slugger estimated the U.S. demand for its baseball bats and obtained the following equation: Q = 320,000 -425P + 2M -12Pr

Where Q is the number of baseball bats sold quarterly, P is the wholesale price Louisville Slugger charges for a baseball bat, M is the consumer's average household income, and Pr is the average price of the Louisville Slugger HD9 baseball glove. : 23. T or F (Correct answer is 'F'):

Suppose Louisville Slugger plans to charge a wholesale price of $250.00 a bat. The average Price of a glove is $200, and the consumer's household income is $24,000. The estimated number of baseball bats demanded is 250,047.5 24. T or F (Correct answer is 'F'):

Assume the same values for the explanatory variables as in #23. Given the regression results, the own price elasticity of demand is found to be elastic and an increase in price would reduce total revenue.

25. T or F (Correct answer is 'F'):

Assume the same values for the explanatory variables as in #23. Given the regression results, an increase in income by 10% would tend to raise demand for Louisville slugger baseball bats by approximately 15%.