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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 revenue by the sold units of output, is attained
Question # 2
One of the following is not included in implicit cost
Question # 3
The slope of MR curve in monopoly is
Question # 4
Reward of Land is called.
Question # 5
Slope of average revenue and marginal revenue cures under monopoly is
Question # 6
Which curve represents demand curve also
Question # 7
Marginal cost curve cuts average cost curve when average cost is
Question # 8
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 9
Demand curve of a monopolist has the shape
Question # 10
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 11
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 12
Which one factor is free gift of nature ?
Question # 13
One of the following is not land:
Question # 14
Which one of the following represents fixed cost
Question # 15
Average revenue is equal to
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 kind of market, in which a single firm produces a single commodity which has no close substitute |
A. Monopoly
B. Duopoly
C. Oligopoly
D. Perfect competition
|
| 2 | 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
|
| 3 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 4 | 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
|
| 5 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 6 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 7 | When total revenue is maximum, marginal revenue is |
A. More
B. Less
C. Constant
D. Zero
|
| 8 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 9 | 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
|
| 10 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
Test Questions