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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
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 2
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 3
Wages of temporary labourers are
Question # 4
Dividing total fixed costs by the units of output, is attained
Question # 5
The costs which the firm has to bear in every condition in the short period, are called
Question # 6
Reward of Land is called.
Question # 7
In perfect competition the average revenue curve is
Question # 8
Reward of capital is called
Question # 9
Average cost curve is in short run
Question # 10
The demand curve for monopolist is also called
Question # 11
All the factors production can be hired except.
Question # 12
Slope of average revenue and marginal revenue cures under monopoly is
Question # 13
Average revenue is equal to
Question # 14
When production of a firm increases then total variable costs
Question # 15
One of the following is not land:
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 -
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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 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
|
| 2 | The slope of MR curve in monopoly is |
A. Vertical
B. Increasing
C. Horizontal
D. Negative
|
| 3 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 4 | Short run cost curves are generally |
A. flatter
B. u shaped
C. saucer shaped
D. oval
|
| 5 | Additional amount of money which a firm gets by selling an additional unit of output is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Revenue
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| 6 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
| 7 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
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| 8 | Which on factor is the basic factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 10 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
Test Questions
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