Which of the following law depict that "Marginal product of a factor input initially rises then after reaching a certain level of employment, it starts falling".

In the short run, when a fixed input is combined with increasing variable inputs, the following changes in Average Product (AP) and Marginal Product (MP) are witnessed. Select the correct order of such change starting with the first unit employment of variable input.

A. AP and MP both decrease and AP > MP

B. AP and MP both increase and AP < MP

C. AP intersects MP and after that AP > MP

D. AP = MP, for the first level of output

Choose the correct sequence from the options given below:

Output increases with which of the following reasons?

(A) Increase in capital.

(B) Increase in labour.

(C) Increase in cost of inputs.

(D) Increase in level of technology.

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Identify the correct sequence to establish the relation between marginal cost and average cost.

(A) When Marginal cost falls, average cost also falls.

(B) Marginal cost rises but average cost continues to fall.

(C) Marginal cost is equal to average cost.

(D) Marginal cost rises and average cost also rises.

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Which of the following cost curve takes the shape of rectangular hyperbola?

Match the LIST-I with LIST-II

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From the following statements about a firm's supply curve, select the correct statements:

(A) Technological progress is expected to shift the supply curve of a firm to the right.

(B) An increase in input prices is expected to shift the supply curve of a firm to the left.

(C) A decrease in input prices is expected to shift the supply curve of a firm to the left.

(D) The imposition of a unit tax shifts the supply curve of a firm to the left.

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