Question: The table below contains average cost data for four different-sized plants1, 2, 3, and 4which are the only four sizes possible. Output Plant 1 Plant

The table below contains average cost data for four different-sized plants1, 2, 3, and 4which are the only four sizes possible.

Output Plant 1 Plant 2 Plant 3 Plant 4
90 $115 $135 $160 $180
140 105 115 140 160
190 115 100 115 130
240 130 120 95 120
290 160 140 120 90
340 190 160 145 130
390 225 185 175 160

a. What is the economic capacity output for each of the four plants? Plant 1: Plant 2: Plant 3: Plant 4: b. In what plant and at what output is minimum long-run average cost achieved? Output of in (Click to select) 1 2 3 4 . c. Which plant is the right size to produce an output of 190? (Click to select) Plant 1 Plant 2 Plant 3 Plant 4 d. Which plant is the right size to produce an output of 90?

(Click to select) Plant 1 Plant 2 Plant 3 Plant 4

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