Calculate the short run average cost when total cost is 95 with 9 units of output.

Which of the following central problems deals with the choice of technique of production?

Manoj is a seller in a market where more can be sold only by lowering the price of the goods. Which of the following will be true about his revenue.

(A) Total revenue will increase at a constant rate.

(B) Average revenue will be more than his marginal revenue at all the levels of output sold.

(C) Marginal revenue curve will be downward sloping from left to the right.

(D) Marginal revenue can be zero at some level of output sold.

Choose the correct answer from the options given below:

The optimum output will be when the relationship between LRMC and LRAC.

The firm must employ more of the variable inputs, in order to increase the production of output. Therefore, as output increases

To increase the output by a certain proportion, if inputs need to be increased by more than that proportion, that condition lies in which of the following?

Which of the following statements reflect average fixed cost?

A. Its curve is 'U' shaped and at zero level of output, it is undefined.

B. When output is very close to zero, it is arbitrarily large, and as output moves towards infinity, it moves towards zero.

C. In the short run, it cannot be changed.

D. A rectangular hyperbola shaped curve whose value decreases with increase in output.

Choose the correct answer from the options given below: