For the demand function in Eq. (8.6.24) how would you test the hypothesis that the income elasticity
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For the demand function in Eq. (8.6.24) how would you test the hypothesis that the income elasticity is equal in value but opposite in sign to the price elasticity of demand? Show the necessary calculations. (cov [β̂2, β̂3] = −0.00142.)
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The null hypothesis is that 2 3 that is ...View the full answer
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