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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
Which one factor is free gift of nature ?
Question # 2
Demand curve of a monopolist has the shape
Question # 3
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 4
Number of firms under monopoly is
Question # 5
One of the following is a fixed capital:
Question # 6
When production of a firm increases then total variable costs
Question # 7
Which on factor is the basic factor ?
Question # 8
In the short period, fixed cost curve has the tendency
Question # 9
All the factors production can be hired except.
Question # 10
What is the reward of Labour ?
Question # 11
One of the following is not included in implicit cost
Question # 12
The slope of MR curve in monopoly is
Question # 13
One of the following is not land:
Question # 14
Dividing total costs by the units of output is attained
Question # 15
When a firm's average total cost is equal to price, then it is called as
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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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 | 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
|
| 2 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 3 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 4 | 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
|
| 5 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 6 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
| 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 | Which is not included in variable cost |
A. price of raw material
B. Advertisement expenditures
C. rent of builiding
D. wages of labour
|
| 9 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 10 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions