Question: a. Which functional form (linear, quadratic, cubic) is most suitable to your data? Construct a scatter diagram but be sure to just do the dots;

a. Which functional form (linear, quadratic, cubic) is most suitable to your data? Construct a scatter diagram but be sure to just do the dots; don't include the lines that connect them. Then, play around with the trendline feature and include what you consider to be the best trendline.

b. Using OLS, estimate the firm's short-run production function. Comment on the strength of the regression results.

c. Calculate the Q, AP, and MP for L = 8 workers.

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

Q L

186

2

1,026

6

441

3

65

1

1,594

9

990

5

1,559

7

719

4

1,162

11

1,515

10

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