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5. (8 marks) An economist is tasked to estimate the following well-known functions in economic theory....

5. An economist is tasked to estimate the following well-known functions in economic theory. In each case, determine choose an appropriate functional form. Demonstrate your answers graphically and comment on the expected signs of the coefficients.

a. The Cobb-Douglas production function with decreasing return to scale. Assume there is only one input to the production function.

b. The utility function of a risk-lover investor.

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