Define the elasticity of (y) with respect to (x) and explain its computation in the simple linear

Question:

Define the elasticity of \(y\) with respect to \(x\) and explain its computation in the simple linear regression model when \(y\) and \(x\) are not transformed in any way, and when \(y\) and/or \(x\) have been transformed to model a nonlinear relationship.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Econometrics

ISBN: 9781118452271

5th Edition

Authors: R Carter Hill, William E Griffiths, Guay C Lim

Question Posted: