Explain, in brief, the meaning of variable cost with the help of a hypothetical schedule and diagram.

Explain the concept of marginal cost with the help of a hypothetical schedule and diagram.

Explain the law of diminishing returns with the help of a hypothetical schedule and diagram.

State and explain the law of supply with the help of a hypothetical schedule and diagram.

Explain the relationship between TC, TVC and TFC with the help of a hypothetical schedule and diagram.

Explain saving function with the help of a schedule and diagram.

Explain 'saving function' with the help of a schedule and diagram.

Explain the concept of supply schedule and supply curve with the help of a hypothetical schedule and diagram.

Explain the meaning of opportunity cost with the help of production possibility schedule.