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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 kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 2
Short run cost curves are generally
Question # 3
Which one of the following represents fixed cost
Question # 4
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 5
Dividing total fixed costs by the units of output, is attained
Question # 6
When total revenue is maximum, marginal revenue is
Question # 7
The shape of average cost curve in the short period is
Question # 8
Dividing total variable costs by the units of output, is attained
Question # 9
The costs which a firm bear only in case of producing commodities
Question # 10
Reward of capital is called
Question # 11
When average cost curve id falling, then marginal cost curve
Question # 12
Slope of average revenue and marginal revenue cures under monopoly is
Question # 13
The slope of MR curve in monopoly is
Question # 14
Number of firms under monopoly is
Question # 15
What is the reward of Labour ?
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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M Muhammad Hammad Shekhani 30 - Jun - 2021 02 Min 53 Sec 14/15 -
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 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
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| 2 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 3 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | The costs which a firm bear only in case of producing commodities |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 5 | 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
|
| 6 | When average cost curve is rising, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
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| 7 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
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| 8 | Demand curve of a monopolist has the shape |
A. Falls from left to right
B. Rises from left to right
C. Remains below MR curve
D. Remains parallel to ox-axis
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| 9 | 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
|
| 10 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
Test Questions
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