The relationship between inputs and outputs of a firm is given by ___________

When a proportional increase in all inputs results in an increase in output by a smaller proportion. This represents:

When more and more workers are applied on the fixed land then the marginal productivity of additional worker will ............... to the total output.

At the positive level of output, where a firm's profit is maximized, the following conditions must hold.

(A) $p = LRMC$

(B) LRMC is non-decreasing at $q_0$

(C) $p \leq LRAC$

(D) $p \geq$ min. LRAC

Choose the correct answer from the options given below:

Choose the correct options with reference to short-run average costs.

(A) Average total cost = total cost / quantity of output

(B) Average total cost = average variable cost + average fixed cost

(C) Average variable cost = average total cost - average fixed cost

(D) Average fixed cost = average variable cost - average cost

Choose the correct answer from the options given below:

The relationship between an increase in variable input and output when all other inputs are held constant is referred to as.

What happens to the total cost (TC) of production if the quantity of output in the production is reduced to 0 (zero)?

Where, TC=Total cost, FC=Fixed Cost, VC=Variable Cost.