Re: 50mm or 40 mm
As stated above you will gather more light improving the clarity of the target when you run a larger objective lens.
Also in general, resolution is best at the center of an objective lens. It decreases at the outer edges because of the curvature of the lens. So, the bigger objective lenses have a larger central area of resolution than smaller lenses. Simply put.. A larger lens will have a larger sweet spot.
At least this is my understanding... Hope it helps.