Question # 1

When AC curve rises, MC curve remains:

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Above AC

Below AC

Equal AC

Negative

One of the following does not represent imperfect competition.

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Day to day market

Monopoly

Duopoly

Monopolistic Competition

Under monopoly:

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AR = MR

AR > MR

AR < MR

AR = MR

Total fixed cost curve is .

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Parallel to the vertical axis

Parallel to the horizontal axis

Sloping downward to the right

Sloping upward to the right

Which on of the following represents fixed cost:

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Price of raw material

Wages

Interests on loan

Rent of land

The long run average cost curve is tangent to various

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short run TCs

short run ACs

AVCs

AFCs

Excise tax is a part of

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fixed cost

variable cost

implicit cost

in not a part of cost

All inputs can be varied in

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short run

long run

both periods

non of the period

TC

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rises continuously

falls then rises

is horizontal to x-axis

is parallel to y-axis

Which is NOT a cause of shift in cost curves of a frim

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excise tax

prices of inputs

increase in productivity

price of product

TC

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starts from origin

not from origin

is parallel to y-axis

parallel to x- axis

TVC

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starts from origin

not from origin

is parallel to x-axis

is parallel to y-axis

All factors of productions are variable in the:

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Marked period

Short period

long period

None of the three

One of the following is an example of monopoly.

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Motorways

Pakistan railways

PIA

None of these

MC is given by slope of

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TFC

TC

ATC

AVC

Long run cost curves can be termed as.

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V-shaped

U-shaped

Oval-shaped

Dish-shaped

As output increases

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MC curve firstly falls then rises

MC firstly rises then falls

MC continuously rises

continuously falls

As out put increases, AC curve

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falls

rises

remains constant

all of the above

Long run average cost curve is :

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U shaped

L shaped

Dish shaped

None of the three

Lowest point on the average cost curve in the long-run represents;

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Optimum factors combination

Maximum level of output

Maximum level of total revenue

None of the three

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Economics Ics Part 1 English Medium Chapter 13 Online Test MCQs With Answers

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