MANAGEARIAL ECONOMICS

. Explain the advantages of using multiple regression compared with simple regression. . Explain the nature of the identication problem, and him! it relates to demand relationships. . Explain the nature of dummy.r 1variables and their use in regression an alysis. . Explain the importance of conect model specication. . Explain the difference between demand estimation and demand forecasting. . What is meant by the pncequalityr relationship? What are its implications? . Explain why lagged 1variables are useful in analysis