×
13th Chapter

ICS Part 1 Economics Chapter 13 MCQs Test

First Year Economics Chapter 13 Online MCQ Test for 1st Year Economics Chapter 13 (Cost of Production and Cost Curves)

This online test contains MCQs about following topics:

Implicit and explicit costs .Short run cost curves . Relationship of different costs . Long run cost curves

First Year Economics Chapter 13 Online MCQ Test for 1st Year Economics Chapter 13 (Cost of Production and Cost Curves)

Sr. # Questions Answers Choice
1 When AC curve rises, MC curve remains:
  • A. Above AC
  • B. Below AC
  • C. Equal AC
  • D. Negative
2 Long run average cost curve is :
  • A. U shaped
  • B. L shaped
  • C. Dish shaped
  • D. None of the three
3 One of the following is an example of monopoly.
  • A. Motorways
  • B. Pakistan railways
  • C. PIA
  • D. None of these
4 Unit cost is another name for
  • A. MC
  • B. AVC
  • C. ATC
  • D. AFC
5 MC is given by slope of
  • A. TFC
  • B. TC
  • C. ATC
  • D. AVC
6 TC
  • A. rises continuously
  • B. falls then rises
  • C. is horizontal to x-axis
  • D. is parallel to y-axis
7 As output increases
  • A. MC curve firstly falls then rises
  • B. MC firstly rises then falls
  • C. MC continuously rises
  • D. continuously falls
8 Pollution which is side effect of producing or consuming something and which is not taken into account by producers and sellers is called
  • A. externality
  • B. wastage
  • C. extra cost
  • D. opportunity cost
9 All factors of productions are variable in the:
  • A. Marked period
  • B. Short period
  • C. long period
  • D. None of the three
10 The long run average cost curve is tangent to various
  • A. short run TCs
  • B. short run ACs
  • C. AVCs
  • D. AFCs

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

Fill the form. Our admission consultants will call you with admission options.

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer