Find the correct statements from the following in respect to production:

A. Average Product of Labour ($AP_L$)= Total Product of Labour / Labor.

B. Marginal Product of Labour ($MP_L$)= Change in total Product of Labour / Change in Labour.

C. Addition input gives constant return in increasing return to scale concept.

D. Law of variable proportions say that the marginal product of a factor input initially rises with its employment level, then after certain level it start falling.

Choose the correct answer from the options given below:

Arrange the following statements in chronological order in respect to the impact of a unit tax on supply:

(A) Imposition of unit tax increases the price of commodities.

(B) Increased prices will lead to an increase in LRAC and LRMC.

(C) The firm's long run supply curve shifts to the left.

(D) At any given market price, the firm supplies fewer units of output.

Choose the correct answer from the options given below:

Arrange the given statements to show the impact on a firm's supply curve due to its determinants.

(A) Organisational innovation allows the firm to use fewer units of inputs.

(B) Any factor that affects a firm's marginal cost curve is a determinant of its supply curve.

(C) At any given market price, the firm now supplies more units of output.

(D) The marginal cost will shift downward.

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The point of minimum average cost at which the supply curve cuts the long run average cost curve is called?

In an economy producing only two goods X and Y, the opportunity cost of producing 5 units of good X is 3 units of good Y.

The above statement implies that _____.

(choose the correct option)

Which of the following conditions must hold for a firm to maximise its profit.

(A) Price= Short run marginal Cost

(B) Short Run marginal cost curve is non-decreasing

(C) Price ≤ Marginal Cost

(D) Price ≥ Average variable cost

Choose the correct answer from the options given below:

In which of the following conditions, output increases with the same proportion of input?