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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 average cost falls, marginal cost is - - - - - - average cost
Question # 2
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 3
Slope of average revenue and marginal revenue cures under monopoly is
Question # 4
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 5
When average cost curve is rising, then marginal cost curve
Question # 6
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 7
When a firm's average total cost is equal to price, then it is called as
Question # 8
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 9
Short run cost curves are generally
Question # 10
When average cost increases, marginal cost is - - - - - - average cost
Question # 11
Average revenue is equal to
Question # 12
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 13
One of the following is a fixed capital:
Question # 14
Which factor is helpful for earning more income ?
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.
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ICom Part 1 Class Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 2 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
|
| 3 | In the short period, fixed cost curve has the tendency |
A. Parallel to ox-axis
B. Parallel to oy-axis
C. Positive
D. Negative
|
| 4 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Average revenue is equal to |
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
|
| 6 | All the factors production can be hired except. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 7 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 8 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 9 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 10 | 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
|
Test Questions
