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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
One of the following is not land:
Question # 2
Slope of average revenue and marginal revenue cures under monopoly is
Question # 3
When average cost increases, marginal cost is - - - - - - average cost
Question # 4
One of the following is a fixed capital:
Question # 5
The demand curve for monopolist is also called
Question # 6
To increase profit a firm minimises
Question # 7
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 8
One of the following is not included in explicit cost
Question # 9
Which on factor is the basic factor ?
Question # 10
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 11
Under perfect competition average revenue is always - - - marginal revenue
Question # 12
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 13
The costs which the firm has to bear in every condition in the short period, are called
Question # 14
What is the reward of Organization ?
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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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 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
|
| 2 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
|
| 3 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 4 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 5 | 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
|
| 6 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 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 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
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| 9 | When production of a firm increases then total variable costs |
A. Decrease
B. Increase
C. Remain constant
D. Do not change
|
| 10 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
Test Questions