In the long run, a firm will choose a plant size that has the   Multiple Choice minimum average total cost of producing its target level of output.   capacity to produce the largest quantity of output. minimum of its average fixed cost.   maximum level of resource use per unit of output.

A firm’s long-run total cost curve is given by: C(q) = 40q − 10q2 + q3 . Over what range of output does this technology exhibit decreasing returns to scale?   Group of answer choices q>8 q<5 None of the above are correct. q>10 q>5 Note: don't use chat bot

a) when the plant is small b) when the plant is medium-size Oc) d) e) at an output level less than q when the plant is large at an output level more than q

A farm produces rice, which is sold in 50 kilogram bags. Let Q denote the number of bagsproduced per week during harvest time. Costs C are denoted in units of dollars. The totalweekly cost function for producing the product is C = 4Q + 100. The total weekly income function for this product is I = 50Q – 2Q2. What is the profit function P as a function of Q and sketch it using P values 0, 5, 10,15, 20 and 25.