Match List-I with List-II

List-I	List-II
(A) Relationship between the variable input and output.	(I) Average Product
(B) Output per unit of variable input.	(II) Marginal Product
(C) Change in output per unit of change in the input	(III) Law of variable proportions
(D) The marginal product of a factor input initially rises with its employment level	(IV) Total Product

Choose the correct answer from the options given below:

The correct answer is (A) - (IV), (B) - (I), (C) - (II), (D) - (III).

Let us understand the match between List-I and List-II step-by-step:

1. (A) Relationship between the variable input and output matches with (IV) Total Product:
Total Product (TP) represents the overall relationship between the variable inputs used in production and the resulting output, keeping other factors constant. It showcases the total volume of goods produced by a firm during a specific period with a given set of inputs.

2. (B) Output per unit of variable input matches with (I) Average Product:
Average Product (AP) is defined as the total output (Total Product) divided by the quantity of the variable input employed. Mathematically, it represents the output generated per unit of variable input:
$$\mathrm{AP}=\frac{\mathrm{TP}}{L}$$
where $L$ represents the units of the variable input (e.g., labor).

3. (C) Change in output per unit of change in the input matches with (II) Marginal Product:
Marginal Product (MP) measures the change in total output that results from employing an additional unit of the variable input. It represents the rate of change of output with respect to the input:
$$\mathrm{MP}=\frac{\Delta \mathrm{TP}}{\Delta L}$$
where $\Delta$ represents the change in the respective variables.

4. (D) The marginal product of a factor input initially rises with its employment level matches with (III) Law of variable proportions:
The Law of Variable Proportions (also known as the Law of Diminishing Marginal Returns) describes how output changes when one variable input is increased while other inputs are kept fixed. In the initial stage of this law, the marginal product of the factor input rises due to specialization and better utilization of the fixed factor. Eventually, the marginal product begins to fall as more units of the variable factor are added.