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May 23, 2023

An economic model is a way to express a relationship between variables. Oftentimes such a model will describe how some outcome variable can be explained by other variables. Can yo

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An economic model is a way to express a relationship between variables. Oftentimes such a model will describe how some outcome variable can be explained by other variables. Can you think of a managerial setting where such a model would be useful? What would be the outcome variable, and what variable(s) would be important determinants of that variable?

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