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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
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Question # 1
When a firm's average total cost is equal to price, then it is called as
Question # 2
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 3
Fixed costs are those costs of production which
Question # 4
Average cost curve is in short run
Question # 5
Which factor combines other three factors ?
Question # 6
When production of a firm increases then total variable costs
Question # 7
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 8
Which one is comparatively the most important factor ?
Question # 9
Which one is immobile factor ?
Question # 10
Number of firms under monopoly is
Question # 11
When average cost falls marginal cost is ---------------- average cost
Question # 12
What is the reward of Organization ?
Question # 13
What is the reward of Labour ?
Question # 14
One of the following is considered as capital:
Question # 15
To increase profit a firm minimises
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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S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
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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 is not included in variable cost |
A. price of raw material
B. Advertisement expenditures
C. rent of builiding
D. wages of labour
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| 2 | The slope of MR curve in monopoly is |
A. Vertical
B. Increasing
C. Horizontal
D. Negative
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| 3 | The kind of market, in which a single firm produces a single commodity which has no close substitute |
A. Monopoly
B. Duopoly
C. Oligopoly
D. Perfect competition
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| 4 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
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| 5 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
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| 6 | Which is the Demand Curve of a frim |
A. Average Revenue Curve
B. Marginal Revenue Curve
C. Total Revenue Curve
D. Average cost curve
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| 7 | Total expenditures which a firm bear to produce a particular quantity of output |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
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| 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
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| 9 | When total revenue is maximum, marginal revenue is |
A. More
B. Less
C. Constant
D. Zero
|
| 10 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
Test Questions
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