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:

The shape of the average fixed cost curve is ........................

When a proportional increase in all inputs results in an increase in output by the half proportion, then the production function is said to display which returns to scale?

When Marginal Product is constant?

When output increases with the same proportion as increase in inputs, this concept is known by?

1. Marginal diminishing returns.
2. Decreasing return to scale.
3. Increasing return to scale.
4. Constant Return to scale.

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

The given the Cobb-Douglas production function

$Q = L^{2/3}K^{1/3}$, which of the following is correct about this production function?

A. The firm produces Q amount of output using L and K inputs only.

B. The given production function exhibits decreasing returns to scale.

C. The given production function exhibits constant returns to scale.

D. The given production function exhibits increasing returns to scale.

Choose the correct answer from the options given below: