×
14th Chapter

## First Year Economics Chapter 14 Online MCQ Test for 1st Year Economics Chapter 14 (Maximization of Profit)

This online test contains MCQs about following topics:

Equilibrium of firm . TC - TR approch . MC - Mr approach

#### ICS Part 1 Economics Chapter 14 Test

Start Chapter 14 Test

### First Year Economics Chapter 14 Online MCQ Test for 1st Year Economics Chapter 14 (Maximization of Profit)

1 If Bali burgers find that their MC of burgers is less than MR they would try to
• C. continue as before
2 There are large number of seller and buyers in the market but none is able to influence market price. such a market is called
• A. free
• B. open
• C. regular
• D. competitive
3 A monopoly firm is in equilibrium when
• A. MC intersects AC
• B. MC intersect MR
• C. AC intersects AR
• D. TC intersects TR
4 When MR = MC , a firm.
• A. Does not attain a equilibrium position
• B. Suffers from loss
• C. Attains its equilibrium position
• D. Attains profit
5 Total cost = Total variable cost in the.
• A. Marked period
• B. Short run
• C. Long run
• D. None of the three
6 Profit = ?
• A. TR - TC
• B. TR - MC
• C. TC - MC
• D. TR + TC
7 The necessary condition for equilibrium position of a firm is
• A. MC &gt; MR
• B. MC &gt; price
• C. MC = MR
• D. MC = AC
8 A firm attains sub-normal profit when:
• A. AR = AC
• B. AR &lt; AC
• C. AR &gt; AC
• D. TR &lt; TC
9 profit is a maximum when
• A. TC and TR curves are parallel
• B. MC and MR curves are parallel
• C. AC and AR curves are parallel
• D. TFC and TVC are parallel
10 A firm attains sub-normal profit under perfect competition when its:
• A. AR = P (Price)
• B. AR &lt; P
• C. AC = P
• D. AC &lt; P

### Top Scorers of Economics Ics Part 1 English Medium Chapter 14 Online Test

T

#### Threem

Lahore09 - Aug - 2022

12/20
03 Mins 44 Sec

Sort By:
X

to continue to ilmkidunya.com

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

X

to continue to ilmkidunya.com

X

to continue to ilmkidunya.com

X