E D Page viewA Read aloud Add textV DrawHighlightAnswer Question 41 -45 based on the Information below:Based on the following regression results (Y demand, X prce):ModelLog-linearby0.6652t= 9.696.1533t-68.72-20654t = -13.13597.79t = 6.83Where X = 10562 and Y = 4346.0.9649C 122.980.0013C- 15.903822( = 21.290.5331E = 74.11Log-linLin-logLinear41.What is the elasticity of demand with respedt to price for the Log-linear model?A. 13.7306B. 1.2956C. 0.9649D. 0.879442.What is the elasticity of demand with respect to price for the Log-lin model when priceis in average?A. 13.7306B. 1.2956C. 0.9649D. 0.8794What is the elasticity of demand with respect to price for the Lin-log madel whendemand is in average?43.A. 13.7306B. 1.2956C. 0.9649D. 0.8794

Given Model b1 b2 Log linear 0.6652 0.9649 log-lin 6.1533 0.0013 Lin-log -20654 3822…

Answer Question 41 -45 based on the Information below: Based on the following regression results (Y denand, X = price): by 0.6652 t= 9,69 6.1533 t 68.72 -20654 t-13.13 597.79 Model Log-linear 0.9649 C122.98 0.0013 Log-lin C-15.90 3822 = 21.29 0.5331 t=74.11 Lin-log Linear t = 6.83 Where X = 10562 and Y = 4346. %3D 41. What is the elasticity of demand with respect to price for the Log-linear model? A. 13.7306 B. 1.2956 C. 0.9649 D. 0.8794 What is the elasticity of demand with respect to price for the Log-lin model when price is in average? 42. A. 13.7306 B. 1.2956 C. 0.9649 D. 0.8794 43. What is the elasticity of demand with respect to price for the Lin-log mode when demand is in average? A. 13.7306 B. 1.2956 C. 0.9649 D. 0.8794

Answer Question 41 -45 based on the Information below: Based on the following regression results (Y denand, X = price): by 0.6652 t= 9,69 6.1533 t 68.72 -20654 t-13.13 597.79 Model Log-linear 0.9649 C122.98 0.0013 Log-lin C-15.90 3822 = 21.29 0.5331 t=74.11 Lin-log Linear t = 6.83 Where X = 10562 and Y = 4346. %3D 41. What is the elasticity of demand with respect to price for the Log-linear model? A. 13.7306 B. 1.2956 C. 0.9649 D. 0.8794 What is the elasticity of demand with respect to price for the Log-lin model when price is in average? 42. A. 13.7306 B. 1.2956 C. 0.9649 D. 0.8794 43. What is the elasticity of demand with respect to price for the Lin-log mode when demand is in average? A. 13.7306 B. 1.2956 C. 0.9649 D. 0.8794

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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