Q. No. 1 i. How do input costs of production decrease with rising cumulative total output over time, explain with the help of learning curve. ii. Can a monopolist incur loss in short run? Why? iii. Differentiate short run and long run. Elaborate different concepts of costs in short run. iv. Explain the terms Explicit costs, Implicit costs, accounting profit and economic profit with the help of an appropriate numerical example. I's Persistent Dumping good or bad for receiving country? Against what type of dumping would the nation want to protect itself? Why