The data given below are the values of output (OUT, in million $), the input labour (L) and input capital investment (K, in million $) of 26 firms in the year 2018.

(i) Estimate the Cobb-Douglas production function.
(ii) Test the hypothesis that the estimates are sensitive to sample size using the additional information of observations 20-26.

(iii) Test the misspecification of the functional form using the RESET test.

OUT L K OUT L K 1060 100 300 1410 290 850 1020 180 400 1350 250 750 1090 140 420 1382 265 860 1150 150 400 1573 330 850 1300 190 510 1590 350 890 1360 195 590 1520 365 875 1380 200 600 1535 310 780 1430 220 630 1595 315 790 1440 225 610 1580 340 810 1490 285 630 1564 345 820 1500 300 850 1485 295 815 1520 302 870 1465 280 860 1540 325 980 1470 285 885