Suppose the fitted (assumed causal) regression line for your data is as follows:  Log(Output) = 6.2 + 0.4 × Log(Labor) + 0.5 × Log(Capital) Interpret the coefficient on Log(Labor).

A. Holding capital fixed, when labor goes up by 1, output goes up by 0.4
B. Holding capital fixed, when labor goes up by 1%, output goes up by 0.4%
C. Holding capital fixed, when labor goes up by 1%, output goes up by 40 units
D. Holding capital fixed, when labor goes up by 1, output goes up by 6.6


Answer: B

Biology & Microbiology

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