Question: 1. You are given the following long-run cost function: TC = 80Q - 15Q 2 + 1.5Q 3 What level of Q will economies of

1. You are given the following long-run cost function:

TC = 80Q - 15Q² + 1.5Q³

What level of Q will economies of scale ends and diseconomies of scale begin?

2. Suppose a firm's production function is Q = 200L + 5L² - 0.08L³.

What is the Average Production of Labor (APL)? Note: if your answer contains exponents, use the "^" before the exponent. Example, "L squared" should be typed as "L^2".

3. Suppose a firm's production function is Q = 50L + 2L²- 0.05L³.

What is the Marginal Production of Labor (MPL)?

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