February 25, 2017

Homework Help: Economics

Posted by TrickyEconomics on Tuesday, July 21, 2009 at 8:34pm.

Help me on this one please?

labor usage -3,7,9,11,17,17,20,24,26,28,30

a. does a cubic equation appear to be a suitable specification, given these data? You may construct a scatter
diagram to help with this question.

b.using the computer software for regression analysis, estimate your firm's short-run production function using thr data given here. Do the parameter estimates have the appropriate algebraic sighns? Are they statistically significant at the 5 percent level?

c.At what point do you estimate marginal product begins to fall?

D.calculate estimates of total, average, and marignal products when the firm employs 23 workers.

e.whenthe firm employs 23 workers, is short-run marginal cost (SMC) rising or falling? How can you tell.

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