Question # 1

According to which economist, some factors are indivisble

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Adam Smith

Marshall

Davenport

Hobson

With the increase of output, which cost of production increases:

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VC

AC

FC

MC

The rate change in total cost is:

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TR

MC

MR

TC

MC cuts AC at:

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Maximum point

Minimum point

Increasing point

Decreasing point

According to which economist, it is difficult to find marginal product

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Robbins and Keynes

Marshall and pigou

Adam Smith and Mathuls

Taussing and Davenport

Wages of temporary labourers are:

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Fixed cost

Marginal cost

Total cost

Variable cost

Fixed cost consists of:

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Rent

Salaries

Interest

All of them

Production of the last unit of a factor of production is called

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Total product

Average product

Marginal product

Positive product

Wages of permanent labourers are:

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Fixed cost

Marginal cost

Total cost

Variable cost

Under perfect competition:

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AR > MR

AR < MR

AR = MR

All of three

Demand for factors of production is

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Direct

Derived

Positive

Negative

Firm's cost depends upon:

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Revenue

Supply

Price

Output

Marginal revenue product curve is called

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Demand curve of the firm

Supply curve of the firm

Demand curve of the industry

Supply curve of industry

Marginal revenue product is the amount of money attained by selling

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Average product

Marginal product

Total product

None of these

Marginal revenue product curve is called

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Demand curve of firm

Supply curve of firm

Demand curve of industry

Supply curve of industry

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Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test MCQs With Answers

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