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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
Which one of the following represents fixed cost
Question # 2
The slope of MR curve in monopoly is
Question # 3
When production of a firm increases then total variable costs
Question # 4
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 5
Which one is immobile factor ?
Question # 6
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 7
Slope of average revenue and marginal revenue cures under monopoly is
Question # 8
Reward of capital is called
Question # 9
Total expenditures which a firm bear to produce a particular quantity of output
Question # 10
Which curve represents demand curve also
Question # 11
When average cost falls marginal cost is ---------------- average cost
Question # 12
What is the reward of Labour ?
Question # 13
When average cost falls, marginal cost is - - - - - - average cost
Question # 14
Under monopoly average revenue curve remains the marginal revenue curve
Question # 15
When total revenue is maximum, marginal revenue 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.
Top Scorers Of Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
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M Muhammad Hammad Shekhani 30 - Jun - 2021 02 Min 53 Sec 14/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
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U Unknown 21 - Jul - 2023 01 Min 57 Sec 13/15 -
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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 | 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
|
| 2 | 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
|
| 3 | Price of raw material, wages of temporary labourers, transport costs etc,are called |
A. Fixed costs
B. Variable costs
C. Marginal cost
D. Total cost
|
| 4 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
| 5 | 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
|
| 6 | 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
|
| 7 | Which curve represents demand curve also |
A. Marginal revenue
B. Average revenue
C. Total revenue
D. Marginal cost
|
| 8 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 9 | 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
|
| 10 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
Test Questions
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