Question

A firm's long-run total cost curve is TC * (Q) = 41Q 56Q ^ 2 +...

A firm's long-run total cost curve is TC * (Q) = 41Q 56Q ^ 2 + 7Q ^ 3

(a) What is the firm's long- marginal cost curve?

(b) What is the firm's longrun average cost curve?

(c) Over what range of output does the production function exhibit economies of scale?

(d) Over what range of output does the production function exhibit diseconomies of scale?

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