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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
Total expenditures which a firm bear to produce a particular quantity of output
Question # 2
Slope of average revenue and marginal revenue cures under monopoly is
Question # 3
What is the reward of Organization ?
Question # 4
Which curve represents demand curve also
Question # 5
Short run cost curves are generally
Question # 6
Marginal cost curve cuts average cost curve when average cost is
Question # 7
Which factor combines other three factors ?
Question # 8
Which factor is helpful for earning more income ?
Question # 9
When average cost falls, marginal cost is - - - - - - average cost
Question # 10
When average cost curve id falling, then marginal cost curve
Question # 11
Average cost curve is in short run
Question # 12
In the short period, fixed cost curve has the tendency
Question # 13
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 14
Under monopoly average revenue curve remains the marginal revenue curve
Question # 15
When average cost increases, marginal cost is - - - - - - average 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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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 | One of the following is not included in explicit cost |
A. Wages of labourers
B. Reward of entrepreneur's personal labour
C. Price of raw material
D. Interest of capital
|
| 2 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
| 3 | 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
|
| 4 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 5 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 7 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
|
| 8 | 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
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| 9 | The amount of money which a firm gets by selling a particular quantity of output, is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Fixed cost
|
| 10 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions