Q1. Describe AFC, AVC, ATC and marginal cost and their inter-relationship.
Q2. Describe the different types of internal economies available to the firm.
Q3. Describe the cost output relationship in the long-run.
Q4. Marginal cost curves are variable. Do you agree? Validate this statement.
Q5. Describe the various cost concepts available to the managerial decision making?
Q6. Describe the economies of scale to an expanding software firm in your city.
Q7. Describe and exemplify break-even chart and point out its value.