Question: Sketch a regression function that is increasing (has a positive slope) and is steep for small values of (X) but less steep for large values

Sketch a regression function that is increasing (has a positive slope) and is steep for small values of \(X\) but less steep for large values of \(X\). Explain how you would specify a nonlinear regression to model this shape. Can you think of an economic relationship with a shape like this?

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