Problem
Sketch a regression function that is increasing (has a positive slope) and is steep for small values of X but less steep for large values of X.
Explain how you would specify a nonlinear regression to model this shape. Can you think of an economic relationship with a shape like this?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.