Questions: 1. Estimate the output Elasticities of the Inputs; Do you believe these estimates?
2. What is the returns-to-scale in this industry?
3. What might be the shape of the Long-Run Average cost curve? When output is expected to grow 10% per year for next three years?
You may want to use the average valules of the independent variables as a Starting point.
	assuming one can buy as much skilled labor as possible at 40 dolars per hour and unskilled labor at 15 dollar per hour.
Also Prices of Raw material is 20 dollars per board feet of material, and 200 dollars per unit of Energy.
4. Suppose this industry (all the firms included) is being considered for a Take-over by a
foreign company, what would the investors be likely doing in terms of
better profitability and WHY?

Output	LAB-SKIL	LAB-admn	Raw	Energy
810	3000	2100	400	2500
650	2800	1875	375	2100
220	540	198	115	1400
170	125	80	110	1020
500	2650	1200	320	1600
1020	4500	2030	600	2650
230	980	1000	540	2000
505	1842	1900	506	1765
667	2763	2565	496	1942
663	2925	1320	390	1723
228	980	656	131	735
110	600	430	105	800
2244	9900	4466	1320	5830
415	1789	1198	240	1341
209	1140	817	200	1520
92	367	280	210	1090
41	165	126	95	491
404	1474	1520	405	1412
495	1215	446	259	3150
267	1064	812	609	3161
252	1049	797	594	3146
1346	5940	2680	792	3498
891	2187	802	466	3670
870	2166	781	445	4400
93	180	79	220	1870
33	175	35	155	900
891	3300	2310	440	2750
829	3069	2148	409	2558
50	263	53	233	1350
403	1679	1275	950	5034
161	642	490	368	1908
489	1783	1839	490	1709
541	1890	2001	489	1780
870	2010	1980	560	1850