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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 shape of average cost curve in the short period is
Question # 2
Which one is immobile factor ?
Question # 3
Which curve represents demand curve also
Question # 4
Which is not included in variable cost
Question # 5
When average cost curve is rising, then marginal cost curve
Question # 6
Which on factor is the basic factor ?
Question # 7
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 8
Which is the Demand Curve of a frim
Question # 9
Marginal cost curve cuts average cost curve when average cost is
Question # 10
Dividing total costs by the units of output is attained
Question # 11
What is the reward of Labour ?
Question # 12
Which factor is helpful for earning more income ?
Question # 13
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 14
Under perfect competition average revenue is always - - - marginal revenue
Question # 15
Demand curve of a monopolist has the shape
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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ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | When average cost curve is rising, then marginal cost curve |
A. Remains below it
B. Remains above it
C. Remains parallel to it
D. Is vertical
|
| 2 | The costs which the firm has to bear in every condition in the short period, are called |
A. Total costs
B. Fixed costs
C. Variable costs
D. Marginal costs
|
| 3 | The slope of MR curve in monopoly is |
A. Vertical
B. Increasing
C. Horizontal
D. Negative
|
| 4 | The costs which a firm bear only in case of producing commodities |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 5 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 7 | When a firm's average total cost is equal to price, then it is called as |
A. Normal profit
B. Abnormal profit
C. Normal loss
D. Abnormal loss
|
| 8 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
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| 9 | 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
|
| 10 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
Test Questions