Suppose a firm is producing in the long run. When it produces 2,000 units of output, its total cost is $6,000. When it produces 2,200 units putput, its total cost is $6,200, and when it produces 2,400 units of output, its total cost is $7,000. This firm is experiencing returns to scale. O increasing O decreasing then increasing O constant O increasing then decreasing O decreasing

Suppose a firm is producing in the long run. When it produces 2,000 units of output, its total cost is $6,000. When it produces 2,200 units of output, its total cost is $6,200, and when it produces 2,400 units of output, its total cost is $7,000. This firm is experiencing. returns to scale. Odecreasing constant Oincreasing then decreasing. O decreasing then increasing Oincreasing

K Suppose that a firm's production function is q=5x in the short run, where there are fixed costs of $1,000, and x is the variable input whose cost is $625 per unit. What is the total cost of producing a level of output q? In other words, identify the total cost function C(q). The total cost of producing ya level of output q is A. C(q)= 1,000. OB. OC. OD. OE C(q)= 1,000+ C(q)= 1,000+ C(q) = 1,000+ 625q² C(q)= 25 q² 25 625q² 25 0.5 q B Dollars per unit of output 2000- 1800- 1600- 1400- 1200- 1000- 800- 600 400- 200- a 12 14 10 Quantity nchack 18 (1) Incorrect

Consider the same firm from the Monday assignment but now let's call that cost schedule total variable cost. Q            1               2               3                4                 5                6                7                   8                    9 TVC        12            20            24              28              34             42            52                 64                 78 And let's imagine that there is fixed costs of 18 which is sunk in the short run. a. Show this firm's average total cost, average variable cost and marginal cost on a graph.  Indicate the efficient scale (I don't think the book uses the words "efficient scale" but it's the quantity where profit would be zero when P=MC. We will discuss what I mean by "efficient scale but probably not before Thursday. By "indicate" I mean give the quantity and MC. I don't need every point to be exactly to scale, I just care about the general shape of the curves, where things cross and the location and…