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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
Average revenue is equal to
Question # 2
The slope of MR curve in monopoly is
Question # 3
Reward of capital is called
Question # 4
Which is not included in variable cost
Question # 5
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 6
Number of firms under monopoly is
Question # 7
In perfect competition the average revenue curve is
Question # 8
One of the following is not included in implicit cost
Question # 9
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 10
Which factor combines other three factors ?
Question # 11
The demand curve for monopolist is also called
Question # 12
How many kinds of costs are in the short period
Question # 13
Dividing total variable costs by the units of output, is attained
Question # 14
When total revenue is maximum, marginal revenue is
Question # 15
When average cost is minimum, marginal cost is - - - - - - - - average 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.
Top Scorers Of Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
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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 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
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| 2 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 3 | 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
|
| 4 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
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| 5 | Dividing total variable costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
| 6 | Wages of temporary labourers are |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 7 | Reward of Land is called. |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 8 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
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| 9 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 10 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
Test Questions