1.The producer problem is to minimize the cost of production subject to the output level. So suppose the production function and total cost is provided below derive the conditional factor demand function

Q=X1X2 Subject to;

TC=W1X1+W2X2

2.Usig a well labelled diagram discuss the long run cost function

3.Explain why economist don't recognize the sunk cost as part of the cost in the business

4. Explain the three types of return to scale

5.In stages of production in which stage of production will the rational producer like to produce

6.Discuss the assumptions of diminishing marginal rate of return

7.Distinguish between Hicksian and Slutsky substitution effect

8.Explain the different type of costs

9.Explain the characteristics of perfectly competitive markets

10.Discuss the degrees of price discrimination