1. You collect the following production data for your firm: Q L a. Which functional form (linear, quadratic, cubic) is most 242 2 suitable to your data? Construct a scatter diagram but be sure 923 6 to just do the dots; don't include the lines that connect them. 453 3 Then, play around with the trendline feature and include what 62 you consider to be the best trendline. 978 9 b. Using OLS, estimate the firm's short-run production function. 1,000 5 Comment on the strength of the regression results. 974 c. Calculate the Q, AP, and MP for L - 8 workers. 540 d. At 8 workers, is MC rising or falling, and how do you know? 4 230 11 708 10