| 1 |
As output increases |
- A. MC curve firstly falls then rises
- B. MC firstly rises then falls
- C. MC continuously rises
- D. continuously falls
|
| 2 |
As out put increases, AC curve |
- A. falls
- B. rises
- C. remains constant
- D. all of the above
|
| 3 |
The long run average cost curve is tangent to various |
- A. short run TCs
- B. short run ACs
- C. AVCs
- D. AFCs
|
| 4 |
Long run cost curves can be termed as. |
- A. V-shaped
- B. U-shaped
- C. Oval-shaped
- D. Dish-shaped
|
| 5 |
Short run cost curves are. |
- A. v-shaped
- B. Dish-shaped
- C. U-shaped
- D. L-shaped
|
| 6 |
Under monopoly: |
- A. AR = MR
- B. AR > MR
- C. AR < MR
- D. AR = MR
|
| 7 |
Total cost curve in general is a. |
- A. Linear function
- B. Quadratic function
- C. Cubic function
- D. Long function
|
| 8 |
Variable cost of production are also called. |
- A. Fixed cost
- B. Supplementary cost
- C. Total variable cost
- D. Prime cost
|
| 9 |
Average cost and marginal cost curves in the short-run are: |
- A. Quadratic function
- B. Linear function
- C. Cubic function
- D. Log function
|
| 10 |
Total fixed cost curve is . |
- A. Parallel to the vertical axis
- B. Parallel to the horizontal axis
- C. Sloping downward to the right
- D. Sloping upward to the right
|
