Question: USE EXCEL - Use the data in the table: Estimate linear and multiplicative (Cobb-Douglas) production functions. Based on your results which do you consider the

USE EXCEL - Use the data in the table:

Estimate linear and multiplicative (Cobb-Douglas) production functions. Based on your results which do you consider the better model, why?

Plant

Output

Capital

Labor

1

605.3

18891

700.2

2

566.1

19201

651.8

3

647.1

20655

822.9

4

523.7

15082

650.3

5

712.3

20300

859

6

487.5

16079

613

7

761.6

24194

851.3

8

442.5

11504

655.4

9

821.1

25970

900.6

10

397.8

10127

550.4

11

896.7

25622

842.2

12

359.3

12477

540.5

13

979.1

24002

949.4

14

331.7

8042

575.7

15

1064.9

23972

925.8

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