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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
One of the following is considered as capital:
Question # 2
Which on factor is the basic factor ?
Question # 3
Which is the Demand Curve of a frim
Question # 4
Fixed costs are those costs of production which
Question # 5
Marginal cost curve cuts average cost curve when average cost is
Question # 6
Reward of Land is called.
Question # 7
Average cost curve is in short run
Question # 8
All the factors production can be hired except.
Question # 9
What is the reward of Labour ?
Question # 10
Which curve represents demand curve also
Question # 11
Which factor combines other three factors ?
Question # 12
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 13
Dividing total costs by the units of output is attained
Question # 14
Short run cost curves are generally
Question # 15
Which one of the following represents fixed 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.
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ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | 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
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| 2 | 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
|
| 3 | When total revenue is maximum, marginal revenue is |
A. More
B. Less
C. Constant
D. Zero
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| 4 | The slope of MR curve in monopoly is |
A. Vertical
B. Increasing
C. Horizontal
D. Negative
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| 5 | One of the following is considered as capital: |
A. Land
B. Labour
C. Raw material
D. Both (a) and (b)
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| 6 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 7 | 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
|
| 8 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 9 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
|
| 10 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
Test Questions
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