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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 cost curve is in short run
Question # 2
One of the following is not land:
Question # 3
One of the following is not included in implicit cost
Question # 4
Under monopoly average revenue curve remains the marginal revenue curve
Question # 5
Demand curve of a monopolist has the shape
Question # 6
Which one is comparatively the most important factor ?
Question # 7
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 8
All the factors production can be hired except.
Question # 9
Dividing total costs by the units of output is attained
Question # 10
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 11
The costs which a firm bear only in case of producing commodities
Question # 12
To increase profit a firm minimises
Question # 13
When average cost curve is rising, then marginal cost curve
Question # 14
Total expenditures which a firm bear to produce a particular quantity of output
Question # 15
Which one factor is free gift of nature ?
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 -
S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
S Samar 14 - Jul - 2021 04 Min 01 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 additional cost which a firm has to bear in order to produce additional unit of output, are called |
A. Average cost
B. Marginal cost
C. Fixed costs
D. Variable costs
|
| 2 | Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
A. Average revenue remains more than marginal revenue
B. Average revenue remains less than marginal revenue
C. Marginal revenue remains less than average revenue
D. Average revenue remains equal to marginal revenue
|
| 3 | 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
|
| 4 | One of the following is not included in implicit cost |
A. Interest of entrepreneur's own capital
B. Rent of building
C. Reward of entrepreneur's own labour
D. Reward of entrepreneur's own land
|
| 5 | Wages of temporary labourers are |
A. Fixed cost
B. Marginal cost
C. Total cost
D. Variable cost
|
| 6 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 7 | One of the following is considered as capital: |
A. Land
B. Labour
C. Raw material
D. Both (a) and (b)
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| 8 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
|
| 9 | Price of raw material, wages of temporary labourers, transport costs etc,are called |
A. Fixed costs
B. Variable costs
C. Marginal cost
D. Total cost
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| 10 | Which one is comparatively the most important factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
Test Questions