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This online test contains MCQs about following topics:
. Normal profit . Super normal profit . Determination of firm's output under perfect competiton . Equilibrium of the firm under perfect competition in the short run . Equilibrium of the firm undre perfect competition in the long run . Equilibrium of the industry inder perfect competition in the long run . Price and output determination under monopoly
ICOM Part 1 Economics Ch 7 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
Online MCQ`s Test For Chapter 7 "Principles of Economics Icom Part 1 English Medium Chapter 7 Online Test"
Try The MCQ`s Test For Chapter 7 "Principles of Economics Icom Part 1 English Medium Chapter 7 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 7 Online Test
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Question # 1
One condition which is not included in perfect competition conditions
Question # 2
A monopolistic firm has control of
Question # 3
If the demand for commodity being produced increases, then a firm in the short run ------- its variable factors
Question # 4
Shut down point appears, when
Question # 5
Under monopoly, marginal revenue is _____ of output
Question # 6
When total revenue and total cost of a firm are equal, the firm earns
Question # 7
Firm earns maximum profit at the point where
Question # 8
When average product increases, marginal product is:
Question # 9
If variable costs of a firm are covered partly under perfect competition, then that firm
Question # 10
To increase profit a firm minimizes
Question # 11
Industry is in equilibrium under perfect competition in the long run, when every existing firm in the industry
Question # 12
Usually elasticity of demand in equilibrium situation under monopoly is
Question # 13
Under monopoly, number of firms is
Question # 14
Laws of returns are also known as:
Question # 15
When total production decreases, marginal product is:
11th Principle of Economics Chapter 7 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 7 Price and Output Determination Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 7 "Principles of Economics Icom Part 1 English Medium Chapter 7 Online Test" MCQ`s Test
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S Subtain Ahmed Raza 21 - Jul - 2023 03 Min 10 Sec 14/15 -
B Bilal zafar 07 - Jun - 2024 04 Min 38 Sec 14/15 -
M Muhammad Hammad Shekhani 01 - Jul - 2021 23 Min 36 Sec 14/15 -
A Ali hamza 25 - Dec - 2018 04 Min 07 Sec 13/15 -
S Saba 22 - Jun - 2021 06 Min 52 Sec 13/15 -
N Naveera 25 - May - 2021 04 Min 02 Sec 12/15 -
M Maryam Ghaffar 11 - Jul - 2021 04 Min 50 Sec 12/15 -
S Sania Butt 03 - Jun - 2024 06 Min 03 Sec 12/15 -
I Imran alam 24 - Jun - 2021 02 Min 01 Sec 11/15 -
N niimra naeem 03 - Nov - 2018 04 Min 50 Sec 11/15 -
H Haroon Raza 05 - Feb - 2021 05 Min 01 Sec 11/15 -
S syed ashir saleem 31 - Jan - 2018 05 Min 33 Sec 11/15 -
D Daniyal umer 25 - Dec - 2020 06 Min 05 Sec 11/15 -
R Ramsha Faisal 18 - Apr - 2021 04 Min 22 Sec 9/15 -
H Hamza 19 - Aug - 2021 08 Min 00 Sec 9/15
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Test Questions
