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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
Dividing total costs by the units of output is attained
Question # 2
The shape of average cost curve in the short period is
Question # 3
What is the reward of Organization ?
Question # 4
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 5
In perfect competition the average revenue curve is
Question # 6
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 7
Average cost curve is in short run
Question # 8
When total revenue is maximum, marginal revenue is
Question # 9
Which one is comparatively the most important factor ?
Question # 10
What is the reward of Labour ?
Question # 11
When average cost curve is rising, then marginal cost curve
Question # 12
To increase profit a firm minimises
Question # 13
Average revenue is equal to
Question # 14
One of the following is not land:
Question # 15
When average cost falls 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 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 2 | Which is not included in variable cost |
A. price of raw material
B. Advertisement expenditures
C. rent of builiding
D. wages of labour
|
| 3 | 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
|
| 4 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
|
| 5 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 6 | The additional cost which a firm has to bear in order to produce additional unit of output, are called |
A. Average cost
B. Marginal cost
C. Fixed costs
D. Variable costs
|
| 7 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
| 8 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
|
| 9 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
| 10 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
Test Questions