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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
Which is not included in variable cost
Question # 2
Dividing total variable costs by the units of output, is attained
Question # 3
When average cost falls, marginal cost is - - - - - - average cost
Question # 4
Slope of average revenue and marginal revenue cures under monopoly is
Question # 5
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 6
When average cost curve is rising, then marginal cost curve
Question # 7
Wages of temporary labourers are
Question # 8
The costs which the firm has to bear in every condition in the short period, are called
Question # 9
In perfect competition the average revenue curve is
Question # 10
Under monopoly average revenue curve remains the marginal revenue curve
Question # 11
Fixed costs are those costs of production which
Question # 12
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 13
The factor of production which is result of human struggle.
Question # 14
Marginal cost curve cuts average cost curve when average cost is
Question # 15
When total revenue is maximum, marginal revenue is
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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A Anfal 02 - Sep - 2021 04 Min 10 Sec 13/15 -
N niimra naeem 03 - Nov - 2018 04 Min 25 Sec 13/15 -
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Z Zayn 27 - Jul - 2021 02 Min 12 Sec 12/15 -
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 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 2 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
|
| 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 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
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| 5 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 6 | 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
|
| 7 | Fixed costs are those costs of production which |
A. Rise with quantity of output
B. Do not change with any amount of production
C. Decline with rising production
D. None of these
|
| 8 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
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| 9 | 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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| 10 | 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
|
Test Questions
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