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
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2 |
Slope of average revenue and marginal revenue cures under monopoly is |
- A. positive
- B. negative
- C. zero
- D. none of three
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3 |
Total expenditures which a firm bear to produce a particular quantity of output |
- A. Fixed costs
- B. Variable costs
- C. Total costs
- D. Average fixed cost
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4 |
Which one is comparatively the most important factor ? |
- A. Land
- B. Labour
- C. Capital
- D. Organization
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5 |
Which one of the following represents fixed cost |
- A. Price of raw material
- B. Wages
- C. Capital goods
- D. Wages of permanent labour
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6 |
The factor of production which is result of human struggle. |
- A. Land
- B. Labour
- C. Capital
- D. Organization
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7 |
When average cost curve id falling, then marginal cost curve |
- A. Remains below it
- B. Remains above it
- C. Remains parallel to it
- D. Is vertical
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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
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9 |
The amount of money which a firm gets by selling a particular quantity of output, is called |
- A. Average revenue
- B. Marginal revenue
- C. Total revenue
- D. Fixed cost
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10 |
In perfect competition the average revenue curve is |
- A. Vertical
- B. Horizontal
- C. Rising
- D. Declining
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