A market researcher estimates a hedonic regression for white wine, using a dummy (0-1) variable for Chardonnay (chard) and age of the vintage in years as predictors. The estimated equation is ln(Price) = 2.5 + 0.24 chard - 0.05 age Which of the following is a valid interpretation of these results? a. Only Chardonnay benefits from aging. b. On average, aging reduces the value of white wine, controlling for whether it is Chardonnay. c. On average, a year of additional aging reduces the value of a bottle of white wine by 50 cents. d. On average, Chardonnay of a given age sells for 24 cents more per bottle than other white wines in the sample