Consider the loglinear model: ln Y i = 1 + 2 ln X i +
Question:
Consider the log–linear model:
ln Yi = β1 + β2 ln Xi + ui
Plot Y on the vertical axis and X on the horizontal axis. Draw the curves showing the relationship between Y and X when β2 = 1, and when β2 > 1, and when β2 < 1.
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