11. Which of the following curve is not U-shaped?

a) AFC
b) AVC
c) MC
d) TC

12. In the long run all factors are:-

a) Fixed
b) Variance
c) All factors remain unchanged
d) None of these

13. Iron and steel are the examples of __________

a) capital
b) intermediary
c) durable
d) None

14. NNP_FC minus____________ = NDP_FC

a) NFIA
b) Net indirect taxes
c) Depreciation
d) None

15. GNP at factor cost minus depreciation is equal to ___________

a) NNP at factor cost
b) NDP at factor cost
c) GDP at factor cost
d) NNP at market price