sales manager of your rm you have estimated the following volume as a function of monthly houschold incerne.
ln(Q)=_((0.781))^(3.418) _((0.392))^(1.212)ln(I)
where Q is the monthly sales volume, I is monthly household income in thousands, and standard errors are listed below the parameter estimates. What is the income elasticity of your firm's product? a) 1.212 b) 3.418 c) 2.206 d) 4.630

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sales manager of your rm you have estimated the following volume as a function of monthly houschold incerne.

ln(Q)=_((0.781))^(3.418) _((0.392))^(1.212)ln(I)

where Q is the monthly sales volume, I is monthly household income in thousands, and standard errors are listed below the parameter estimates. What is the income elasticity of your firm's product? a) 1.212 b) 3.418 c) 2.206 d) 4.630

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