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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
What is the reward of Labour ?
Question # 2
In perfect competition the average revenue curve is
Question # 3
Which on factor is the basic factor ?
Question # 4
Which factor is helpful for earning more income ?
Question # 5
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 6
Demand curve of a monopolist has the shape
Question # 7
The demand curve for monopolist is also called
Question # 8
Which is not included in variable cost
Question # 9
Which is the Demand Curve of a frim
Question # 10
Slope of average revenue and marginal revenue cures under monopoly is
Question # 11
The costs which a firm bear only in case of producing commodities
Question # 12
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 13
Short run cost curves are generally
Question # 14
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 15
The additional cost which a firm has to bear in order to produce additional unit of output, are called
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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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 | The costs which a firm bear only in case of producing commodities |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 2 | Average revenue is equal to |
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
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| 3 | 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
|
| 4 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
|
| 5 | Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
A. Average revenue remains more than marginal revenue
B. Average revenue remains less than marginal revenue
C. Marginal revenue remains less than average revenue
D. Average revenue remains equal to marginal revenue
|
| 6 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | 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
|
| 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
|
| 9 | 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
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| 10 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
Test Questions
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