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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
When average cost increases, marginal cost is - - - - - - average cost
Question # 2
One of the following is a fixed capital:
Question # 3
What is the reward of Labour ?
Question # 4
One of the following is not land:
Question # 5
Under monopoly average revenue curve remains the marginal revenue curve
Question # 6
Which is the Demand Curve of a frim
Question # 7
Average cost curve is in short run
Question # 8
When a firm's average total cost is equal to price, then it is called as
Question # 9
Dividing total costs by the units of output is attained
Question # 10
Average revenue is equal to
Question # 11
Wages of temporary labourers are
Question # 12
Dividing total revenue by the sold units of output, is attained
Question # 13
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 14
Which factor combines other three factors ?
Question # 15
Dividing total variable costs by the units of output, is attained
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 -
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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 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
| 2 | Which one is immobile factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | Which one is comparatively the most important factor ? |
A. Land
B. Labour
C. Capital
D. Organization
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| 4 | The slope of MR curve in monopoly is |
A. Vertical
B. Increasing
C. Horizontal
D. Negative
|
| 5 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
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| 6 | Average revenue is equal to |
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
|
| 7 | The costs which increase with the increase in output and decrease with the decrease in output, are called |
A. Variable costs
B. Fixed costs
C. Average costs
D. Marginal cost
|
| 8 | One of the following is considered as capital: |
A. Land
B. Labour
C. Raw material
D. Both (a) and (b)
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| 9 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 10 | 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
|
Test Questions
