Match the LIST-I with LIST-II

LIST-I	LIST-II
A. Short run marginal cost	I. A rectangular hyperbola shaped curve whose value decreases with increase in output.
B. Total fixed cost	II. The shape of this cost curve is U-shaped and its value is undefined at zero output.
C. Average fixed cost	III. An upward sloping curve derived grom the vertical summation of TFC and TVC.
D. Total Cost	IV. A horizontal straight line, the value of which cannot be changed.

Choose the correct answer from the options given below:

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:

Identify the correct sequence for a firm operating in the short run.

(A) Total product increases at a decreasing rate.

(B) Marginal product becomes zero

(C) Marginal product increases

(D) More and more units of variable factor are employed.

Choose the correct answer from the options given below:

In Microeconomics, what does supply refer to?

Which one of the following leads to the law of variable proportions?

The marginal product of an input initially rises and then after a certain level of employment, it starts falling, thus MP curve looks like an inverse 'U'- shaped curve. This condition is under ............

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.