True or False:
1. In the long run, the inputs that do not change with output are called fixed inputs or fixed factors of production.
2. The long run can vary considerably in length from industry to industry.
3. Total product will typically start at a low level and increase slowly at first and then more rapidly as the amount of the variable input increases.
4. Marginal product first rises as the result of more effective use of fixed inputs and then falls.
5. Diminishing marginal product stems from the crowding of the fixed inputs with more and more of the variable input.
6. A firm never knowingly allows itself to reach the point where the marginal product becomes negative.
7. If a firm were producing at the level where the marginal product of an input was negative, its profits would be lower as a result.
8. Fixed costs for a given period have to be paid only if a firm produces output in that period.