1.Use a well labelled graph to describe different stages of production

2.What are the characteristics of isoquants

3.Suppose the production function is given as Q=AkL derive MRTS

4.What are the assumptions of profit maximization

5.Differentiate between fixed cost and variable cost

6.What are sun cost

7.Descibe the stages of increasing returns

8.What is the marginal rate of technical substitution

9.Discuss the characteristics of perfectly competitive markets

10.Discuss the shutdown rule in perfectly competitive market