In the Log-Log Model, the Slope Coefficient Indicates A $X$ Has On

question 33

Short Answer

In the log-log model, the slope coefficient indicates a. the effect that a unit change in $X$ has on $Y$ .
b. the elasticity of $Y$ with respect to $X$ .
c. $\Delta Y / \Delta X$ .
d. $\frac { \Delta Y } { \Delta X } \times \frac { Y } { X }$ .

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Definitions:

Output Price

The cost at which goods or services are offered for sale in the marketplace.

Graduate School

An advanced academic institution providing postgraduate education in various disciplines, leading to degrees like Master's or Doctorate.

Factor Of Production

An essential input to the production process, such as labor, capital, land, and entrepreneurship.

Marginal Productivities

The additional output that is produced by using one more unit of a particular input, ceteris paribus.