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Economic Identify and interpret how the following regression models relate to demand theory? a. Model 1: Yt = b1 + b2X2t + et , where

Economic

Identify and interpret how the following regression models relate to demand theory?

a. Model 1: Yt = b1 + b2X2t + et , where X2t = time.

b. Model 2: ln Yt = ln b1 + b2 ln X2t + b3 ln X3t + b4t ln X4t + et , where ln denotes the natural log.

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