Given the following data on output and inputs for ten production period Production period Output (Q) Capital (K) Labour (L) 1 225 10 20 2 240 12 22 3 278 10 26 4 212 14 18 5 199 12 16 6 297 16 24 7 242 16 20 8 155 10 14 9 215 8 20 10 160 8 14 1. Estimate the parameters (A, α and β) of a Cobb-Douglas production function using the least squares regression method. 2. Use estimated parameters to determine (a) returns to scale and (b) factor intensity 3. Determine elasticity of labour and elasticity of capital 4. Measure marginal product of labour and capital for the input combination (L=20 and k=30) 5. Construct the equation for isoquant and graph the isoquant assuming output is 100 units and L = 2,4,6,8,10,12,14.16 and 18

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Given the following data on output and inputs for ten production
period

Production period Output (Q) Capital (K) Labour (L)

1 225 10 20

2 240 12 22

3 278 10 26

4 212 14 18

5 199 12 16

6 297 16 24

7 242 16 20

8 155 10 14

9 215 8 20

10 160 8 14

1. Estimate the parameters (A, α and β) of a Cobb-Douglas production
function using the least squares regression method.

2. Use estimated parameters to determine (a) returns to scale and (b)
factor intensity

3. Determine elasticity of labour and elasticity of capital

4. Measure marginal product of labour and capital for the input
combination (L=20 and k=30)

5. Construct the equation for isoquant and graph the isoquant assuming
output is 100 units and L = 2,4,6,8,10,12,14.16 and 18

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