More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Economics Ics Part 1 English Medium Chapter 13 Online Test MCQs With Answers
Question # 1
MC is given by slope of
Choose an answer
TFC
TC
ATC
AVC
Previous
Skip
Next
Question # 2
The sacrifice of an alternative use of resources to produce something is called its
Choose an answer
real cost
opportunity cost
sacrifice cost
alternative cost
Previous
Skip
Next
Question # 3
Lowest point on the average cost curve in the long-run represents;
Choose an answer
Optimum factors combination
Maximum level of output
Maximum level of total revenue
None of the three
Previous
Skip
Next
Question # 4
Long run average cost curve is :
Choose an answer
U shaped
L shaped
Dish shaped
None of the three
Previous
Skip
Next
Question # 5
Pollution which is side effect of producing or consuming something and which is not taken into account by producers and sellers is called
Choose an answer
externality
wastage
extra cost
opportunity cost
Previous
Skip
Next
Question # 6
Variable cost of production are also called.
Choose an answer
Fixed cost
Supplementary cost
Total variable cost
Prime cost
Previous
Skip
Next
Question # 7
All inputs can be varied in
Choose an answer
short run
long run
both periods
non of the period
Previous
Skip
Next
Question # 8
TC
Choose an answer
rises continuously
falls then rises
is horizontal to x-axis
is parallel to y-axis
Previous
Skip
Next
Question # 9
Long rum is a period
Choose an answer
three years or longer
long enough to allow firms to change plant size and capacity
in which a firm need not get loans
which affects larger more than smaller firms
Previous
Skip
Next
Question # 10
Short run means is a period
Choose an answer
less than one year
in which at least one input is fixed
in which no input can be changed
in which firms can easily enter or exit
Previous
Skip
Next
Question # 11
Which on of the following represents fixed cost:
Choose an answer
Price of raw material
Wages
Interests on loan
Rent of land
Previous
Skip
Next
Question # 12
Which statement is true
Choose an answer
ATC + AVC = AFC
ATC + MC = AFC
ATC + AFC = AVC
AFC + AVC = ATC
Previous
Skip
Next
Question # 13
The cost which a firm incurs for purchasing or hiring factors is called
Choose an answer
implicit
explicit
real
basic
Previous
Skip
Next
Question # 14
Under monopoly:
Choose an answer
AR = MR
AR > MR
AR < MR
AR = MR
Previous
Skip
Next
Question # 15
One of the following does not represent imperfect competition.
Choose an answer
Day to day market
Monopoly
Duopoly
Monopolistic Competition
Previous
Skip
Next
Question # 16
In monopoly at various output levels
Choose an answer
AR = MR
AR < MR
AR > MR
AR and MR curves are parallel
Previous
Skip
Next
Question # 17
As output increases
Choose an answer
MC curve firstly falls then rises
MC firstly rises then falls
MC continuously rises
continuously falls
Previous
Skip
Next
Back