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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
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 2
Short run cost curves are generally
Question # 3
How many kinds of costs are in the short period
Question # 4
Average revenue is equal to
Question # 5
Dividing total fixed costs by the units of output, is attained
Question # 6
Wages of temporary labourers are
Question # 7
When average cost falls marginal cost is ---------------- average cost
Question # 8
Dividing total revenue by the sold units of output, is attained
Question # 9
Dividing total costs by the units of output is attained
Question # 10
Which one factor is free gift of nature ?
Question # 11
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 12
Under perfect competition average revenue is always - - - marginal revenue
Question # 13
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 14
Fixed costs are those costs of production which
Question # 15
The amount of money which a firm gets by selling a particular quantity of output, is called
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 | When average cost falls, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 2 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
| 3 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 4 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 5 | Total expenditures which a firm bear to produce a particular quantity of output |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 6 | The costs which the firm has to bear in every condition in the short period, are called |
A. Total costs
B. Fixed costs
C. Variable costs
D. Marginal costs
|
| 7 | 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
|
| 8 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
Test Questions