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What is your measure of output

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Having trouble coming up with a cost function equation for my Managerial Econ class. I chose a company that sells bottled water as the subject sort of like a Pure Life water with is a middle of the road priced bottled water. I need help with the two following questions:

1. What is your measure of output?  What is your measure of costs? Explain the choice for your variables.

2. Formulate a hypothetical relationship between costs and output for your firm and write the equation for your cost function. What data do you need to gather in order to estimate the parameters of this function?

Reference no: EM13966278

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