Consider the following data. 
a.Draw a scatter diagram. Does the relationship between X and Y appear to be linear?
b.Assume the relationship between X and Y can best be given by 
Estimate the parameters of this curvilinear function.
Definitions:
Marginal Cost
The increased cost associated with making one extra unit of a good or service.
Demand
The quantity of a product or service that consumers are willing and able to purchase at various prices during a given period.
Monopolist
A single seller in a market who has significant control over the price and supply of a unique product or service.
Barriers to Entry
Obstacles involving economic, process-related, or legal factors that deter the entry of new firms into a specific industry or business field.
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