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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
When production of a firm increases then total variable costs
Question # 2
One of the following is not land:
Question # 3
Which one is comparatively the most important factor ?
Question # 4
What is the reward of Labour ?
Question # 5
In the short period, fixed cost curve has the tendency
Question # 6
Which curve represents demand curve also
Question # 7
Total expenditures which a firm bear to produce a particular quantity of output
Question # 8
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 9
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 10
Average revenue is equal to
Question # 11
Dividing total costs by the units of output is attained
Question # 12
Number of firms under monopoly is
Question # 13
When average cost falls, marginal cost is - - - - - - average cost
Question # 14
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 15
The amount of money which a firm gets by selling a particular quantity of output, is called
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 | 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
|
| 2 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 3 | Which on factor is the basic factor ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 4 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 5 | One of the following is considered as capital: |
A. Land
B. Labour
C. Raw material
D. Both (a) and (b)
|
| 6 | One of the following is not land: |
A. White house
B. Sub continents
C. Power house
D. Both (a) and (b)
|
| 7 | Which is not included in variable cost |
A. price of raw material
B. Advertisement expenditures
C. rent of builiding
D. wages of labour
|
| 8 | 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
|
| 9 | 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
|
| 10 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
Test Questions