Question: Access the file COST FUNCTION. It is a model in which the total cost of production is a function of factor inputs used in the

Access the file COST FUNCTION. It is a model in which the total cost of production is a function of factor inputs used in the production process.

a. Graph the function. Comment on its likely functional form.

b. Create the additional variables needed to correspond to the form you have chosen in part A.

c. Estimate the model and comment on its significance and fit.

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