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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
Wages of temporary labourers are
Question # 2
When production of a firm increases then total variable costs
Question # 3
Marginal cost curve cuts average cost curve when average cost is
Question # 4
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 5
Dividing total fixed costs by the units of output, is attained
Question # 6
Which on factor is the basic factor ?
Question # 7
The costs which the firm has to bear in every condition in the short period, are called
Question # 8
When total revenue is maximum, marginal revenue is
Question # 9
The slope of MR curve in monopoly is
Question # 10
Dividing total costs by the units of output is attained
Question # 11
Fixed costs are those costs of production which
Question # 12
When average cost curve id falling, then marginal cost curve
Question # 13
Reward of Land is called.
Question # 14
One of the following is considered as capital:
Question # 15
One of the following is not included in explicit 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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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 -
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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 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
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| 2 | 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
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| 3 | One of the following is not land: |
A. White house
B. Sub continents
C. Power house
D. Both (a) and (b)
|
| 4 | Average revenue is equal to |
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
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| 5 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
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| 6 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
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| 7 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
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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 | When average cost curve id falling, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
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| 10 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
Test Questions