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Question: for each of the following production functions below find the...

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For each of the following production functions below, find the

 LR total cost as a function of Q: TC(Q)

 LR average total cost as a function of Q: ATC(Q)

 How does LR average total cost vary with Q? (Hint, find the derivative: dATC(Q)/dQ)

 Does this cost function exhibit economies of scale, diseconomies of scale, or constant returns to scale?

A. Q = 4L^2

B. Q = 2L

C. Q = L1/3

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