Suppose we know that the desired level of food consumption foot is given by: food; = 00 + a 1 price+ But, suppose we do not adjust to foot; right away (e.g. habit persistence). Instead: food; = \food+ (1 - 1) foodt-1 Write down a regression model that we can estimate and indicate how we will identify (1-x). Edit View Insert Format Tools Table B Paragraph I U A eu Tv 12pt MacBook Air Suppose we know that the desired level of food consumption foot is given by: food; = 00 + a 1 price+ But, suppose we do not adjust to foot; right away (e.g. habit persistence). Instead: food; = \food+ (1 - 1) foodt-1 Write down a regression model that we can estimate and indicate how we will identify (1-x). Edit View Insert Format Tools Table B Paragraph I U A eu Tv 12pt MacBook Air