(Answered) Ql k70520120772001224r120w15what is the mrts long-run total

Engineering

Q L* K*

70 5 20

120 7 7

200 12 24

R=120

W=15

What is the MRTS, long-run total cost, and long-run average cost when the firm produces 70? Show your work.

What is the MRTS, long-run total cost, and long-run average cost when the firm produces 120? Show your work.

What is the MRTS, long-run total cost, and long-run average cost when the firm produces 200? Show your work.

Over what range of output does the firm experience diseconomies of scale? Explain.

Over what range of output does the firm experience economies of scale? Explain.

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