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Mathematics, 24.05.2021 14:00 Sariyahhall1

A​ "Cobb-Douglas" production function relates production ​(Q​) to factors of​ production, capital ​(K​), labor ​(L​), raw materials ​(M​), and an error term u using the equation ​, Q= λK^β1L^β2M^βe^μ

where ​λ,β1,β2 ​and β2 and are production parameters. Suppose that you have data on production and the factors of production from a random sample of firms with the same​ Cobb-Douglas production function. Which of the following regression functions provides the most useful transformation to estimate the​ model?

a. A linear regression function.
b. A logarithmic regression function.
c. An exponential regression function.
d. A quadratic regression function.

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A​ "Cobb-Douglas" production function relates production ​(Q​) to factors of​ production, capital ​(...

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