1-Which functional form (linear, quadratic, cubic) is most suitable to your data? Construct a scatter diagram with...

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1-Which functional form (linear, quadratic, cubic) is most suitable to your data? Construct a scatter diagram with dots.

What is the best trendline?

2- Using OLS, estimate the firm's short-run production function.

3-What is the strength of the regression results?

4- What is the Q, AP, and MP for L = 8 workers.

5 At 8 workers, is MC rising or falling, and how do you know?

Q	L
242	2
923	6
453	3
62	1
978	9
1,000	5
974	7
540	4
230	11
708	10

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Managerial economics applications strategy and tactics

ISBN: 978-1439079232

12th Edition

Authors: James r. mcguigan, R. Charles Moyer, frederick h. deb harris

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Posted Date: Mar 09, 2024 12:50 PM

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1-Which functional form (linear, quadratic, cubic) is most suitable to your data? Construct a scatter diagram with...

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Managerial economics applications strategy and tactics

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