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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
Number of firms under monopoly is
Question # 2
Which one factor is free gift of nature ?
Question # 3
Average cost curve is in short run
Question # 4
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 5
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Question # 6
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 7
Demand curve of a monopolist has the shape
Question # 8
The demand curve for monopolist is also called
Question # 9
When total revenue is maximum, marginal revenue is
Question # 10
When a firm's average total cost is equal to price, then it is called as
Question # 11
Wages of temporary labourers are
Question # 12
Short run cost curves are generally
Question # 13
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 14
Additional amount of money which a firm gets by selling an additional unit of output is called
Question # 15
The factor of production which is result of human struggle.
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 -
S Samar 14 - Jul - 2021 04 Min 01 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 | 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
|
| 2 | The additional cost which a firm has to bear in order to produce additional unit of output, are called |
A. Average cost
B. Marginal cost
C. Fixed costs
D. Variable costs
|
| 3 | When total revenue is maximum, marginal revenue is |
A. More
B. Less
C. Constant
D. Zero
|
| 4 | Under perfect competition average revenue is always - - - marginal revenue |
A. Equal to
B. Less than
C. More than
D. None of three
|
| 5 | When average cost falls, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 6 | What is the reward of Organization ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 7 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 8 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
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| 9 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 10 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
Test Questions
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