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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
Reward of Land is called.
Question # 2
When a firm's average total cost is equal to price, then it is called as
Question # 3
Marginal cost curve cuts average cost curve when average cost is
Question # 4
In perfect competition the average revenue curve is
Question # 5
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 6
Which one of the following represents fixed cost
Question # 7
Dividing total fixed costs by the units of output, is attained
Question # 8
Which one factor is free gift of nature ?
Question # 9
Which factor is helpful for earning more income ?
Question # 10
Total expenditures which a firm bear to produce a particular quantity of output
Question # 11
In the short period, fixed cost curve has the tendency
Question # 12
The slope of MR curve in monopoly is
Question # 13
Which on factor is the basic factor ?
Question # 14
Wages of temporary labourers are
Question # 15
Which is not included in variable cost
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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ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Price of raw material, wages of temporary labourers, transport costs etc,are called |
A. Fixed costs
B. Variable costs
C. Marginal cost
D. Total cost
|
| 2 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
|
| 3 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 4 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
|
| 5 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | When average cost increases, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 7 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
|
| 8 | Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
A. Average revenue remains more than marginal revenue
B. Average revenue remains less than marginal revenue
C. Marginal revenue remains less than average revenue
D. Average revenue remains equal to marginal revenue
|
| 9 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 10 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
Test Questions
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