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This online test contains MCQs about following topics:
. Firm's costs of production . Kinds of costs according to payment . Short run costs . Concepts of pre unit costs of output . Interrelationship of average cost and marginal cost . Long run costs . Derivation of long run average cost curve . Derivation of long run marginal cost curve
ICOM Part 1 Economics Ch 6 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
Try The MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test
00:00
Question # 1
When total revenue is maximum, marginal revenue is
Question # 2
Which is not included in variable cost
Question # 3
When production of a firm increases then total variable costs
Question # 4
Demand curve of a monopolist has the shape
Question # 5
Wages of temporary labourers are
Question # 6
One of the following is considered as capital:
Question # 7
Short run cost curves are generally
Question # 8
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 9
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 10
Dividing total revenue by the sold units of output, is attained
Question # 11
Which one is immobile factor ?
Question # 12
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 13
Marginal cost curve cuts average cost curve when average cost is
Question # 14
Which curve represents demand curve also
Question # 15
The slope of MR curve in monopoly is
11th Principle of Economics Chapter 6 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 6 Firm's Costs of Production and Revenues Test. Click the button for 100% free full practice test.
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ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When average cost curve id falling, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
|
| 2 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | The amount of money which a firm gets by selling a particular quantity of output, is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Fixed cost
|
| 5 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 6 | In perfect competition the average revenue curve is |
A. Vertical
B. Horizontal
C. Rising
D. Declining
|
| 7 | One of the following is not land: |
A. White house
B. Sub continents
C. Power house
D. Both (a) and (b)
|
| 8 | When a firm's average total cost is equal to price, then it is called as |
A. Normal profit
B. Abnormal profit
C. Normal loss
D. Abnormal loss
|
| 9 | One of the following is not included in implicit cost |
A. Interest of entrepreneur's own capital
B. Rent of building
C. Reward of entrepreneur's own labour
D. Reward of entrepreneur's own land
|
| 10 | Dividing total variable costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
Test Questions