The goal of this task is to estimate demand for a good or service of your choice. Students need to take the following steps:

1. 1. Choose the product or service and define the relevant market.
2. 2. Build a demand model by selecting relevant explanatory variables.
3. 3. Gather data on selected variables (consider using proxy variables as well).
4. 4. Estimate the model
5. 5. Prepare a 2-page summary and presentation summarizing the key findings of the project

Answer rating: 100% (QA)

ANSWER 1 I have chosen the product of a new video game console The relevant market would be the vide... View the full answer