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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
Under perfect competition average revenue is always - - - marginal revenue
Question # 2
What is the reward of Organization ?
Question # 3
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 4
The costs which a firm bear only in case of producing commodities
Question # 5
When average cost falls marginal cost is ---------------- average cost
Question # 6
How many kinds of costs are in the short period
Question # 7
Marginal cost curve cuts average cost curve when average cost is
Question # 8
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 9
When production of a firm increases then total variable costs
Question # 10
Total expenditures which a firm bear to produce a particular quantity of output
Question # 11
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 12
In perfect competition the average revenue curve is
Question # 13
When average cost curve is rising, then marginal cost curve
Question # 14
The factor of production which is result of human struggle.
Question # 15
When average cost curve id falling, then marginal cost curve
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 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 2 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 3 | Additional amount of money which a firm gets by selling an additional unit of output is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Revenue
|
| 4 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | Dividing total revenue by the sold units of output, is attained |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Average cost
|
| 6 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
|
| 7 | Slope of average revenue and marginal revenue cures under monopoly is |
A. positive
B. negative
C. zero
D. none of three
|
| 8 | 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
|
| 9 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 10 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
Test Questions