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  3. consider the following equation: ^chicken = -85.4

Consider the following equation: ^CHICKEN = -85.4 - 0.58 PRICE + 88.76 ln (YD) CHICKEN - per...

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Statistics

Consider the following equation:

^CHICKEN = -85.4 - 0.58 PRICE + 88.76 ln (YD)

CHICKEN - per capita consumption of chicken in pounds

PRICE - price of chicken in dollars per pound

YD - disposable income

a) Interpret the coefficient of ln(YD)

Answer & Explanation Solved by verified expert
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The given equation is the    See Answer
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