ICOM Part 1 Principles of Economics English Medium Chapter 6 MCQ's Test

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 6 (Firm's Costs of Production and Revenues)

ICOM Part 1 Principles of Economics English Medium Chapter 6 MCQ's Test

Start Chapter 6 Test

ICOM Part 1 Principles of Economics Chapter Wise Test (English Medium)

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 6 (Firm's Costs of Production and Revenues)

Sr. # Questions Answers Choice
1 The shape of average cost curve in the short period is
  • A. Vertical
  • B. Horizontal
  • C. Positively sloping
  • D. Like English alphabet U
2 When average cost falls marginal cost is ---------------- average cost
  • A. More than
  • B. Less than
  • C. Equal to
  • D. A and C
3 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
4 Which on factor is the basic factor ?
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
5 One of the following is a fixed capital:
  • A. Raw material
  • B. Machinery
  • C. Saving certificate
  • D. None of these
6 The slope of MR curve in monopoly is
  • A. Vertical
  • B. Increasing
  • C. Horizontal
  • D. Negative
7 Under monopoly average revenue curve remains the marginal revenue curve
  • A. Below
  • B. Above
  • C. Parallel
  • D. None of these
8 The costs which the firm has to bear in every condition in the short period, are called
  • A. Total costs
  • B. Fixed costs
  • C. Variable costs
  • D. Marginal costs
9 The amount of money which a firm gets by selling a particular quantity of output, is called
  • A. Average revenue
  • B. Marginal revenue
  • C. Total revenue
  • D. Fixed cost
10 When average cost curve is rising, then marginal cost curve
  • A. Remains below it
  • B. Remains above it
  • C. Remains parallel to it
  • D. Is vertical

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer