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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 factor combines other three factors ?
Question # 2
When average cost curve is rising, then marginal cost curve
Question # 3
Average cost curve is in short run
Question # 4
The factor of production which is result of human struggle.
Question # 5
The shape of average cost curve in the short period is
Question # 6
Which is the Demand Curve of a frim
Question # 7
When average cost increases, marginal cost is - - - - - - average cost
Question # 8
How many kinds of costs are in the short period
Question # 9
The costs which the firm has to bear in every condition in the short period, are called
Question # 10
Dividing total revenue by the sold units of output, is attained
Question # 11
Which one is immobile factor ?
Question # 12
The amount of money which a firm gets by selling a particular quantity of output, is called
Question # 13
Under monopoly average revenue curve remains ______ the marginal revenue curve
Question # 14
Average revenue is equal to
Question # 15
When production of a firm increases then total variable costs
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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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 | Number of firms under monopoly is |
A. One
B. Two
C. Three
D. Four
|
| 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 | The shape of average cost curve in the short period is |
A. Vertical
B. Horizontal
C. Positively sloping
D. Like English alphabet U
|
| 4 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
|
| 5 | 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
|
| 6 | In perfect competition the average revenue curve is |
A. Vertical
B. Horizontal
C. Rising
D. Declining
|
| 7 | The costs which increase with the increase in output and decrease with the decrease in output, are called |
A. Variable costs
B. Fixed costs
C. Average costs
D. Marginal cost
|
| 8 | Average cost curve is in short run |
A. Negative sloped
B. U-shaped
C. L-shaped
D. Positive sloped
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| 9 | Dividing total costs by the units of output is attained |
A. Average fixed cost
B. Average cost
C. Average variable cost
D. Marginal cost
|
| 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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