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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
Under perfect competition average revenue is always - - - marginal revenue
Question # 2
One of the following is not included in explicit cost
Question # 3
Average revenue is equal to
Question # 4
In perfect competition the average revenue curve is
Question # 5
Dividing total fixed costs by the units of output, is attained
Question # 6
One of the following is a fixed capital:
Question # 7
When average cost falls, marginal cost is - - - - - - average cost
Question # 8
Which factor is helpful for earning more income ?
Question # 9
Which is not included in variable cost
Question # 10
In the short period, fixed cost curve has the tendency
Question # 11
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 12
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 13
Dividing total variable costs by the units of output, is attained
Question # 14
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 15
One of the following is considered as capital:
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 -
S Samar 14 - Jul - 2021 04 Min 01 Sec 14/15 -
N Naveera 24 - May - 2021 04 Min 47 Sec 14/15 -
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U Unknown 21 - Jul - 2023 01 Min 57 Sec 13/15 -
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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 | Rent of the building, interest of the capital and salaries of the permanent staff etc are called |
A. Fixed costs
B. Variable
C. Marginal cost
D. Average cost
|
| 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 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
| 4 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 5 | 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
|
| 6 | The costs which increase with the increase in output and decrease with the decrease in output, are called |
A. Variable costs
B. Fixed costs
C. Average costs
D. Marginal cost
|
| 7 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 8 | When average cost increases, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 9 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 10 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions