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ou have been hired as a consultant to estimate the demand for various brands of coffee in the market. You are provided with annual price
ou have been hired as a consultant to estimate the demand for various brands of coffee in the market. You are provided with annual price data for two years by U.S. state and the quantities sold. You want to estimate a demand function for coffee using this data. What problems do you think you will encounter if you estimated the demand equation by OLS? How can you overcome these obstacles
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