The following is an estimated supply regression for sugar: Y = 0:025 + 1:5X where Y is supply in kilos and X is price per kilo. (i) Interpret the coefficient of variable X. (ii) Predict the supply when price is (iii) Given that r(x, y) = 1 in the above case, interpret the implied relationship between price and quantity supplied. 20 per kilo.

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