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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
When average cost curve is rising, then marginal cost curve
Question # 3
When total revenue is maximum, marginal revenue is
Question # 4
Wages of temporary labourers are
Question # 5
When average cost increases, marginal cost is - - - - - - average cost
Question # 6
The costs which increase with the increase in output and decrease with the decrease in output, are called
Question # 7
When average cost falls, marginal cost is - - - - - - average cost
Question # 8
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 9
Demand curve of a monopolist has the shape
Question # 10
Which one is comparatively the most important factor ?
Question # 11
One of the following is considered as capital:
Question # 12
Which one factor is free gift of nature ?
Question # 13
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 14
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 15
The costs which the firm has to bear in every condition in the short period, are called
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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N niimra naeem 03 - Nov - 2018 04 Min 25 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 | 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
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| 2 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
| 3 | When average cost is minimum, marginal cost is - - - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 4 | Which one factor is free gift of nature ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 5 | In perfect competition the average revenue curve is |
A. Vertical
B. Horizontal
C. Rising
D. Declining
|
| 6 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
|
| 7 | When average cost increases, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 8 | Which factor combines other three factors ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | 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
|
| 10 | 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
|
Test Questions
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