The set of all possible combinations of the two inputs that yield the same maximum possible level of output is called?

The equation of long-run marginal cost.

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:

Match List-I with List-II

Choose the correct answer from the options given below:

Identify the correct statements from the following:

(A) As long as MP>AP, the average Product (AP) can rise even when the Marginal Product (MP) is falling.

(B) The law of variable proportions operates only if the factor ratio happens to change.

(C) Total Product (TP) must increase no matter if there are increasing or decreasing returns to a factor.

(D) Marginal Product (MP) = Average Product (AP), when AP is maximum.

Choose the correct answer from the options given below:

The total cost is equal to Rs.95 for 7 units of output and Rs.115 for 8 units of output. What is the marginal cost at the quantity of 8th unit?

The average fixed cost (AFC) decreases as output (q) increases. If we multiply any value q of output with its corresponding AFC, we always get a constant, namely ___________.