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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 perfect competition average revenue is always - - - marginal revenue
Question # 2
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 3
Dividing total costs by the units of output is attained
Question # 4
The shape of average cost curve in the short period is
Question # 5
When a firm's average total cost is equal to price, then it is called as
Question # 6
Which one factor is free gift of nature ?
Question # 7
Which one of the following represents fixed cost
Question # 8
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 9
In the short period, fixed cost curve has the tendency
Question # 10
Which is not included in variable cost
Question # 11
Short run cost curves are generally
Question # 12
Marginal cost curve cuts average cost curve when average cost is
Question # 13
Which factor combines other three factors ?
Question # 14
One of the following is considered as capital:
Question # 15
Slope of average revenue and marginal revenue cures 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.
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| 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 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 3 | 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
|
| 4 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 5 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 6 | Fixed costs are those costs of production which |
A. Rise with quantity of output
B. Do not change with any amount of production
C. Decline with rising production
D. None of these
|
| 7 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
|
| 8 | Which one is immobile factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 10 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
| 11 | One of the following is not land: |
A. White house
B. Sub continents
C. Power house
D. Both (a) and (b)
|
| 12 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 13 | Rent of the building, interest of the capital and salaries of the permanent staff etc are called |
A. Fixed costs
B. Variable
C. Marginal cost
D. Average cost
|
| 14 | 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
|
| 15 | When total revenue is maximum, marginal revenue is |
A. More
B. Less
C. Constant
D. Zero
|
Test Questions
