👉 In econometrics, a monovariant is a variable that can take on two values simultaneously. For example, in a two-way table with two independent variables, if one of the variables has only two possible values (e.g., x1 = 0, x2 = 1), then the other variable has three possible values: x3, x4, and x5. This means that the value of x3 is not affected by the value of x2.
