| 1 |
When average cost falls marginal cost is ---------------- average cost |
- A. More than
- B. Less than
- C. Equal to
- D. A and C
|
| 2 |
To increase profit a firm minimises |
- A. revenues
- B. costs
- C. demand
- D. supply
|
| 3 |
Short run cost curves are generally |
- A. flatter
- B. u shaped
- C. saucer shaped
- D. oval
|
| 4 |
When average cost increases, marginal cost is - - - - - - average cost |
- A. Less than
- B. More than
- C. Equal to
- D. None of three
|
| 5 |
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
|
| 6 |
The demand curve for monopolist is also called |
- A. Total revenue
- B. Average revenue
- C. Marginal revenue
- D. Zero revenue
|
| 7 |
Reward of Land is called. |
- A. Rent
- B. Wage
- C. Interest
- D. Profit
|
| 8 |
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
|
| 9 |
When total revenue is maximum, marginal revenue is |
- A. More
- B. Less
- C. Constant
- D. Zero
|
| 10 |
What is the reward of Labour ? |
- A. Rent
- B. Wage
- C. Interest
- D. Profit
|
