Looking inside the transistor

Let's look at the load vs output.

 10 ohm.

20 ohm.

30 ohm.

40 ohm.

 10 ohm

20 ohm

30 ohm

40 ohm

Now a look inside the transistor.

Here we see the emitter current and the voltage drop from emitter to collector. R=E/I is the yellow trace. The transistor Z is about 4K. It is a dynamic value which changes with bias.