| 1 |
According to which economist, it is difficult to find marginal product of a factor of production |
- A. Marshall and pigou
- B. Adam Smith and Malthus
- C. Keynes
- D. Taussing and Davenport
|
| 2 |
AR curve is also called: |
- A. Supply curve
- B. Demand curve
- C. Utility curve
- D. Cost curve
|
| 3 |
Fixed cost consists of: |
- A. Rent
- B. Salaries
- C. Interest
- D. All of them
|
| 4 |
When Ac is rising: |
- A. AC = MC
- B. MC > AC
- C. MC < AC
- D. Both (b) and (c)
|
| 5 |
Next best alternative use of resources is known as: |
- A. Implicit cost
- B. Explicit cost
- C. Opportunity cost
- D. Sunk cost
|
| 6 |
According to which economist, some factors are indivisble |
- A. Adam Smith
- B. Marshall
- C. Davenport
- D. Hobson
|
| 7 |
If a firm does not produce anything then its variable cost is: |
- A. Minimum
- B. Negative
- C. Maximum
- D. Zero
|
| 8 |
Marginal revenue product curve is called |
- A. Demand curve of the firm
- B. Supply curve of the firm
- C. Demand curve of the industry
- D. Supply curve of industry
|
| 9 |
TC = TFC +: |
- A. MC
- B. AR
- C. TVC
- D. TAC
|
| 10 |
Amount of money attained by selling marginal product is called |
- A. Average revenue product
- B. Marginal revenue product
- C. Total revenue product
- D. None of three
|
