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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
The slope of MR curve in monopoly is
Question # 2
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 3
One of the following is a fixed capital:
Question # 4
Slope of average revenue and marginal revenue cures under monopoly is
Question # 5
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 6
When average cost curve is rising, then marginal cost curve
Question # 7
How many kinds of costs are in the short period
Question # 8
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 9
Reward of capital is called
Question # 10
Dividing total fixed costs by the units of output, is attained
Question # 11
The factor of production which is result of human struggle.
Question # 12
When average cost falls, marginal cost is - - - - - - average cost
Question # 13
Reward of Land is called.
Question # 14
Which is the Demand Curve of a frim
Question # 15
Number of firms under monopoly is
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 -
S Sania Butt 03 - Jun - 2024 02 Min 19 Sec 13/15 -
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A Anfal 02 - Sep - 2021 04 Min 10 Sec 13/15 -
N niimra naeem 03 - Nov - 2018 04 Min 25 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 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
| 2 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
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| 3 | When average cost increases, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 4 | Which is not included in variable cost |
A. price of raw material
B. Advertisement expenditures
C. rent of builiding
D. wages of labour
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| 5 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
| 6 | Wages of temporary labourers are |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 7 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 8 | 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
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| 9 | 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
|
| 10 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
Test Questions
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