Question 3: Suppose a. researcher estimated the following longlinear regression function. 1'.an =1.21 UHSLnP, +0.25Lan' +IEI.3:H..1I1':"r +eq Here Q. is the quantity of import {in the USE]. F'. is the price of the imported good [in the USD]. P.' is the price of the substitute good in the USA {in the USE}. and Y. is the total income of the USA [in the LIED}. [3] Explain whether the Sign of estimated coefcient of the independent variables are insistent with expectation. {1D} {In} Interpret the estimated coefcients of F; , F," , and V, . (1C!) {e} What type of good (Normal, Interior, Luxuary} is the imported commodity? Explain your answer. [10} {ct} What type of elasticity.' does the commodity have with respect to its imported price? Explain your answer. [113}