1) A set of all the combinations of the two inputs that yield the same level of output is

2) Addition to the total product is called

3) AC (average cost) is the sum of AFC (average fixed cost) and

4) The shape of AFC curve is

5) All inputs can be varied in the

6) Which of the following cost will be zero when production is stopped ?

7) If input is doubled and output become double, the production function is

8) The relationship between input and output is called

9) TP at 5^th unit of labour is 10 and TP at 6^th unit of labour is 12, then MP is

10) α + β = 1 in the Cobb-Douglas production function exhibits

11) Identify the shape of the following AFC curve

12) Slope of an isoquant is

13) ΔTC / ΔQ is

14) When MP becomes zero, TP

15) All the following curves are 'U' shaped except

16) TFC = AFC x

17) When a firm increased the number of labour from 10 to 11, keeping the capital fixed the total product increased from 120 to 130. Which of the following is statement is correct in this regard ?

18) α + β > 1 in the Cobb-Douglas production function exhibits

19) The equation q =  L^.3 K^.6 represents

20) Returns to Scale is a

21) The inverted " S " shaped curve is represented by

22) When AC (average cost) increases, MC (marginal cost) will be more than

23) Which of the following equation is correct

24) When AP (average product) decreases MP (marginal Product) will be less than 

25) When a producer can bring about changes in all inputs, that time period is called