1. what are the important steps in estimating demand equation? mention
the steps and elaborte them.
2.suppose you know a demand equation. how do you compute the elasticity 
demand using that equation? what information you need for that?
3.explain the relationships between total production, average
production, and marginal production. draw a graph showing all of them.
4.what are the shapes of the short run average cost and total fixed
cost? why those shaps?
5.explain the difference between "the law of variable proportions" and
"the law of returns to scale".

hw?