| 1 |
Profit is maximum when |
- A. distance between TR and TC is maximum
- B. distance between AR and AC is maximum
- C. distance between MR and MC is maximum
- D. distance between MR and AR is maximum
|
| 2 |
In the long-run a firm attains under monopoly; |
- A. Normal profit
- B. Super normal profit
- C. Sub-normal profit
- D. Any on of the above
|
| 3 |
The necessary condition for equilibrium position of a firm is |
- A. MC > MR
- B. MC > price
- C. MC = MR
- D. MC = AC
|
| 4 |
A firms reaches its shut down point where: |
- A. AC > AR
- B. AC = AR
- C. AC< AR
- D. AVC = AR
|
| 5 |
A firm attains sub-normal profit under perfect competition when its: |
- A. AR = P (Price)
- B. AR < P
- C. AC = P
- D. AC < P
|
| 6 |
Normally MR curve intersects MC curve at points |
|
| 7 |
Profit = ? |
- A. TR - TC
- B. TR - MC
- C. TC - MC
- D. TR + TC
|
| 8 |
At the point of equilibrium of firm under perfect competition |
- A. MC curve must be rising
- B. MC curve must be falling
- C. MR curve must be rising
- D. MR curve must be falling
|
| 9 |
A monopoly firm is in equilibrium when |
- A. MC intersects AC
- B. MC intersect MR
- C. AC intersects AR
- D. TC intersects TR
|
| 10 |
An economic unit, which is independent to take decisions regarding the production and sale of goods are called |
- A. Firm
- B. Organization
- C. Both a and b
- D. None of these
|
