| 1 |
The shape of average cost curve in the short period is |
- A. Vertical
- B. Horizontal
- C. Positively sloping
- D. Like English alphabet U
|
| 2 |
When average cost falls marginal cost is ---------------- average cost |
- A. More than
- B. Less than
- C. Equal to
- D. A and C
|
| 3 |
The costs which a firm bear only in case of producing commodities |
- A. Fixed costs
- B. Variable costs
- C. Total costs
- D. Average fixed cost
|
| 4 |
Which on factor is the basic factor ? |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 5 |
One of the following is a fixed capital: |
- A. Raw material
- B. Machinery
- C. Saving certificate
- D. None of these
|
| 6 |
The slope of MR curve in monopoly is |
- A. Vertical
- B. Increasing
- C. Horizontal
- D. Negative
|
| 7 |
Under monopoly average revenue curve remains the marginal revenue curve |
- A. Below
- B. Above
- C. Parallel
- D. None of these
|
| 8 |
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
|
| 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
|
| 10 |
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
|
