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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
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 2
Which curve represents demand curve also
Question # 3
When total revenue is maximum, marginal revenue is
Question # 4
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 5
When average cost falls, marginal cost is - - - - - - average cost
Question # 6
The shape of average cost curve in the short period is
Question # 7
In perfect competition the average revenue curve is
Question # 8
Short run cost curves are generally
Question # 9
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 10
When average cost curve is rising, then marginal cost curve
Question # 11
Reward of capital is called
Question # 12
The slope of MR curve in monopoly is
Question # 13
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 14
Reward of Land is called.
Question # 15
Under monopoly average revenue curve remains ______ the marginal revenue curve
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.
Top Scorers Of Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
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S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
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H HaXEeb RajPut 26 - Aug - 2021 03 Min 30 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Reward of Land is called. |
A. Rent
B. Wage
C. Interest
D. Profit
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| 2 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
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| 3 | Additional amount of money which a firm gets by selling an additional unit of output is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Revenue
|
| 4 | Which one is comparatively the most important factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 6 | When average cost falls, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 7 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
| 8 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
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| 9 | One of the following is considered as capital: |
A. Land
B. Labour
C. Raw material
D. Both (a) and (b)
|
| 10 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions