| 1 |
The kind of market, in which a single firm produces a single commodity which has no close substitute |
- A. Monopoly
- B. Duopoly
- C. Oligopoly
- D. Perfect competition
|
| 2 |
Which curve represents demand curve also |
- A. Marginal revenue
- B. Average revenue
- C. Total revenue
- D. Marginal cost
|
| 3 |
Which one factor is free gift of nature ? |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 4 |
When average cost falls, marginal cost is - - - - - - average cost |
- A. Less than
- B. More than
- C. Equal to
- D. None of three
|
| 5 |
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
|
| 6 |
The demand curve for monopolist is also called |
- A. Total revenue
- B. Average revenue
- C. Marginal revenue
- D. Zero revenue
|
| 7 |
One of the following is considered as capital: |
- A. Land
- B. Labour
- C. Raw material
- D. Both (a) and (b)
|
| 8 |
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
|
| 9 |
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
|
| 10 |
Marginal cost curve cuts average cost curve when average cost is |
- A. Maximum
- B. Minimum
- C. Increasing
- D. Decreasing
|
