Question: Use the data in CEMENT for this exercise. (i) A static (inverse) supply function for the monthly growth in cement price (gprc) as a function

Use the data in CEMENT for this exercise.

(i) A static (inverse) supply function for the monthly growth in cement price (gprc) as a function of growth in quantity (gcem) is gprct 5 a1gcemt 1 b0 1 b1gprcpet 1 b2febt 1 p 1 b12dect 1 us t,

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