Question # 1

Price of raw material, wages of temporary labourers, transport costs etc,are called

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Fixed costs

Variable costs

Marginal cost

Total cost

All the factors production can be hired except.

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Land

Labour

Capital

Organization

Which one of the following represents fixed cost

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Price of raw material

Wages

Capital goods

Wages of permanent labour

One of the following is considered as capital:

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Land

Labour

Raw material

Both (a) and (b)

Which is not included in variable cost

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price of raw material

Advertisement expenditures

rent of builiding

wages of labour

Dividing total variable costs by the units of output, is attained

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Average fixed cost

Average variable cost

Average cost

Marginal cost

Average cost curve is in short run

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Negative sloped

U-shaped

L-shaped

Positive sloped

Which one is immobile factor ?

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Land

Labour

Capital

Organization

Wages of temporary labourers are

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Fixed cost

Marginal cost

Total cost

Variable cost

One of the following is not land:

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White house

Sub continents

Power house

Both (a) and (b)

Fixed costs are those costs of production which

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Rise with quantity of output

Do not change with any amount of production

Decline with rising production

None of these

When total revenue is maximum, marginal revenue is

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More

Less

Constant

Zero

The costs which a firm bear only in case of producing commodities

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Fixed costs

Variable costs

Total costs

Average fixed cost

Reward of capital is called

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Rent

Wage

Interest

Profit

Which one factor is free gift of nature ?

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Land

Labour

Capital

Organization

Under monopoly average revenue curve remains ______ the marginal revenue curve

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Below

Above

Parallel to

None of three

Dividing total fixed costs by the units of output, is attained

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Average fixed cost

Average variable cost

Average cost

Marginal cost

When average cost falls marginal cost is ---------------- average cost

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More than

Less than

Equal to

A and C

Marginal cost curve cuts average cost curve when average cost is

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Maximum

Minimum

Increasing

Decreasing

When average cost curve id falling, then marginal cost curve

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Remains below it

Remains above it

Remains parallel to it

Is vertical

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