81 Variable cost increases continuously with the increase in

Production

82 The cost of raw materials is a good example of

Variable cost

83 In the short term, when the output of firm increases, what happens to its average fixed cost?

Decreases

84 A significant property of the Cobb Douglas production function is that the elasticity of substitution between inputs is equal to what?

Unity

85 The production techniques are technically efficient above which line?

Upper rigid line

86 The another name of  iso-product curve is

Production Indifference curve

87 The another name of Short-run Average Cost (SAC) curve is

Plant curve

88 The shape of the Average Fixed Cost (AFC) curve is

Rectangular hyperbola

89 Elasticity of supply refers to the degree of responsiveness of supply of a commodity to changes in what?

Price

90 The cost of one thing in terms of the alternative given up is called

Opportunity cost