Part 1-Analytical Report
Write a short analytical report (3 – 4 pages) on two topics: shortages / scarcity and point elasticity / arc elasticity and specifically address the following points:
Design a study of a production function for a steel mill and another one for a call center, which variables would you use, and what statistical method would you select for each function? In general, compare and contrast the production function for a product and one for a service center.
Comment briefly on the following methods of cost estimation:

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