This paper’s objective is to give you an introduction into conducting an empirical research and presenting the results of that research in a professionally written paper. To carry out this research, you will identify an economic relationship (or a demand equation) between variables that are interesting to you. In your paper, you will describe this relationship and present a lucid argument for the importance of a better understanding of this relationship. And then, collecting appropriate data, you will empirically estimate this relationship along with all of the appropriate goodness of fit tests and statistics. Finally, you will analyze and report the results of your empirical estimation with particular emphasis on how these results are important and useful for a manager of a business enterprise or an economic agent faced with a choice. Your final report must contain the following sections:
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