Economists at the Wilson Company are interested in developing a production function

| February 14, 2018

Economists at the Wilson Company are interested in developing a production function for fertilizer plants. They collected data on 15 different plants that produce fertilizer..18px;=”” 12px=””>SUMMARY OUTPUTRegression StatisticsMultiple R0.973748R Square0.948186Adjusted R Square0.93955Standard Error0.038937Observations15ANOVAdfSSMSFSignificance FRegression20.3329220.166461109.79781.94E-08Residual120.0181930.001516Total140.351115CoefficientsStandard Errort StatP-valueLower 95%Intercept-2.064960.349946-5.900797.24E-05-2.82742Capital0.4152070.1345173.0866560.0094210.12212Labor1.0780040.2493354.3235220.000990.53475Determine the labor and capital estimated parameters, and give an economic interpretation of each value.Determine whether this production function exhibits increasing, decreasing or constant returns to scale. (Ignore the issue of statistical significance

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