Question
3. Suppose you have the following estimated equation, alcohol = 2-1.4 log price
where alcohol refers to weekly alcohol consumption per capita and price is in US
dollars. What would be your estimate of the slope if you use daily alcohol
consumption rather than weekly alcohol consumption?
a) -0.2
b) -1.4
c) -9.8
d) -0.14
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Transcribed Image Text

3. Suppose you have the following estimated equation, alcohol = 2-1.4 log price where alcohol refers to weekly alcohol consumption per capita and price is in US dollars. What would be your estimate of the slope if you use daily alcohol consumption rather than weekly alcohol consumption? a) -0.2 b) -1.4 c) -9.8 d) -0.14

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