Question: Need help with this question. consider the regression: log(D)=b+log(p)+u Describe a scenario that could result in a positive oLS estimate of , when the true

Need help with this question. consider the regression:

Need help with this question. consider the regression: log(D)=b+log(p)+u Describe a scenario

log(D)=b+log(p)+u Describe a scenario that could result in a positive oLS estimate of , when the true underlying price elasticity is negative. (It may be useful to think about a standard supply/demand diagram here) log(D)=b+log(p)+u Describe a scenario that could result in a positive oLS estimate of , when the true underlying price elasticity is negative. (It may be useful to think about a standard supply/demand diagram here)

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