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A study of expenditures on drink in cities resulting in the following equation: Ln E=0.673 Ln Y + 0.158 log N Where E is drink

A study of expenditures on drink in cities resulting in the following equation:

Ln E=0.673 Ln Y + 0.158 log N

Where E is drink expenditures; Y is total expenditures on goods and services, and N is the size of the family. Using your own words, what does this equation imply?


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