reg quantity price praw

Source |
SS
df
MS
Number of obs = 49
-------------+-----------------------------F( 2, 46) = 35.71
Model | 224.819549 2 112.409774
Prob > F = 0.0000
Residual | 144.797694 46 3.14777596
R-squared = 0.6082
-------------+-----------------------------Adj R-squared = 0.5912
Total | 369.617243 48 7.70035923
Root MSE = 1.7742
-----------------------------------------------------------------------------quantity | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+---------------------------------------------------------------price | .724675 .1095657 6.61 0.000 .5041307 .9452192
praw | -.8674796 .1066114 -8.14 0.000 -1.082077 -.652882
_cons | -6.97291 3.323105 -2.10 0.041 -13.66197 -.283847
-----------------------------------------------------------------------------Note the positive sign (!) of price
in the demand equation. Use 2SLS: