The theory of the firm under perfect competition — Economics STD 11 Commerce — Question

Giving reasons, state whether the following statements are true or false.
When the quantity of a variable input is increased from 3 units to 4 units, the total output increases from 70 units to 85 units. The marginal product of the variable input is 15 units.

All resources are not equally scarce all the time.

Explain the inverse relationship between the price of a commodity and its demand.OR
Why does law of demand slope downward from left to right?
OR
Why do household buy more at a lower price than at a higher price?OR
Explain the causes behind law of demand.

State giving reasons, whether the following statements are true or false:
When Marginal Revenue falls to zero, Average Revenue becomes maximum.

PPC shows increasing slope.

Giving reasons, state whether the following statements are true or false.
Under perfect competition, all the units of a good produced can be heterogeneous.

Giving reasons, state whether the following statement are true or false.
If marginal revenue is equal to the total cost, producer is in equilibrium.

Giving reasons, state whether the following Its are true or false.
Average cost falls only when marginal cost falls.

Change in quantity demanded is the explanations of law of demand. (True/ False)

Giving reasons, state whether the following statements are true or false.
If marginal product becomes negative, average product must also become negative.