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Answer to Question #37924 in Economics of Enterprise for van

Question #37924
1. Assuming that there is a model of quantity demanded (Y) and personal income (X), and the linear regression you have run was estimated using income measured in $1,000. But in reality people’s income is measured in $1 not $1,000. If you multiply the income variable by 1,000 and re-estimate the model.
a. How are the results the same or different?
b. Explain why the results would be the same or different.
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