If a firm’s production department data says that the total variable cost for producing 8 units

and 10 units of output is 2,500 and 3,000 respectively, the marginal cost of the 10th unit will be

a. 100 b. 150 c. 500 d. 250

Define normative economics, with a suitable example.

State the meaning of `quantity demanded of a commodity`.

State any one assumption for the construction of the curve that shows the possibilities of

potential production of two goods in an economy.

State the behaviour of Marginal Physical Product, under Returns to a Factor.