1.You are given the following data on output and inputs for 10 production periods:

TIME

OUTPUT

CAPITAL (K)

LABOR (L)

1

225

12

20

2

240

14

22

3

278

10

24

4

212

14

18

5

199

12

20

6

297

16

24

7

242

16

20

8

155

10

14

9

215

8

20

10

160

8

14

Estimate the parameters (A,) of Cobb-Douglas production function using the Least-squares (OLS) regression method. [ Assume ].Use the estimated parameters to determine: Returns to Scale, Equations for the marginal product of labor and Capital. Calculate the marginal products of capital and labor for the input combinations: K = 20, L = 30