problem 1: How does drop in the total product influence the marginal product?

problem 2: Which Cost Curve is parallel to the OX-axis? describe why?

problem 3: What do you signify by the term Fixed Factors of Production?

problem 4: What is meant by the term Market Period?

problem 5: What causes a downward Movement all along the Curve?

problem 6: Illustrate when the Elasticity of Supply of commodity is equivalent to Unity?

problem 7: Sketch the TVC Curve.

problem 8: At Producer’s Equilibrium Marginal Cost must be falling. True or False. Give reason for your answer.

problem 9: What happens to the Supply of a Good when price of inputs used increase while producing the similar?

problem 10: The vertical distance between the ATC and AVC must drop or increase or remain constant with the rise in output? Give the reason.