In regards to multiple OLS regressions, what does it mean to have a loss of residuals or multicolinearity? What are the consequences?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter4: Estimating Demand
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In regards to multiple OLS regressions, what does it mean to have a loss of residuals or multicolinearity? What are the consequences?

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