Multiple Choice
The following data show the demand for an airline ticket dependent on the price of this ticket. 
For the assumed cubic and log-log regression models, Demand = β0 + β1Price + β2Price2 + β3Price3 + ε and ln(Demand) = β0 + β1ln(Price) + ε, the following regression results are available. 
Which of the following is the price elasticity of the demand found by the log-log model?
A) 26.3660
B) −3.2577
C) 0.9852
D) 0.2071
Correct Answer:
Verified
Correct Answer:
Verified
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