A major advantage of the ________ production function is that it can be easily transformed into a linear function,and thus can be analyzed with the linear regression method.
A)cubic
B)power
C)quadratic
D)None of the above

Question

Quizplus · Accepted Answer

The power production function is of the form Y = aX^b, which can be transformed into a linear function lnY = ln(a) + bln(X). This transformation allows for the application of linear regression methods to analyze the data. The other production functions listed cannot be transformed into linear functions as easily.

A Major Advantage of the ________ Production Function Is That