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This online test contains MCQs about following topics:
. Firm's costs of production . Kinds of costs according to payment . Short run costs . Concepts of pre unit costs of output . Interrelationship of average cost and marginal cost . Long run costs . Derivation of long run average cost curve . Derivation of long run marginal cost curve
ICOM Part 1 Economics Ch 6 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
Try The MCQ's Test For Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test"
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Total Questions15
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Time Allowed20
Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test
00:00
Question # 1
When a firm's average total cost is equal to price, then it is called as
Question # 2
Which one of the following represents fixed cost
Question # 3
How many kinds of costs are in the short period
Question # 4
One of the following is not included in explicit cost
Question # 5
Which factor combines other three factors ?
Question # 6
To increase profit a firm minimises
Question # 7
One of the following is a fixed capital:
Question # 8
The slope of MR curve in monopoly is
Question # 9
Which on factor is the basic factor ?
Question # 10
Average revenue is equal to
Question # 11
When average cost increases, marginal cost is - - - - - - average cost
Question # 12
When average cost curve is rising, then marginal cost curve
Question # 13
Total expenditures which a firm bear to produce a particular quantity of output
Question # 14
The kind of market, in which a single firm produces a single commodity which has no close substitute
Question # 15
When total revenue is maximum, marginal revenue is
11th Principle of Economics Chapter 6 Test
Here you can prepare 11th Principle of Economics English Medium Chapter 6 Firm's Costs of Production and Revenues Test. Click the button for 100% free full practice test.
Top Scorers Of Chapter 6 "Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test" MCQ`s Test
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H HaXEeb RajPut 26 - Aug - 2021 03 Min 30 Sec 12/15
ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's
| Sr.# | Question | Answer |
|---|---|---|
| 1 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
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| 2 | When average cost increases, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 3 | Reward of capital is called |
A. Rent
B. Wage
C. Interest
D. Profit
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| 4 | Average revenue is equal to |
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
|
| 5 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
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| 6 | Additional amount of money which a firm gets by selling an additional unit of output is called |
A. Average revenue
B. Marginal revenue
C. Total revenue
D. Revenue
|
| 7 | Marginal cost curve cuts average cost curve when average cost is |
A. Maximum
B. Minimum
C. Increasing
D. Decreasing
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| 8 | Dividing total variable costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
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| 9 | How many kinds of costs are in the short period |
A. Two
B. Three
C. Four
D. Five
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| 10 | Fixed costs are those costs of production which |
A. Rise with quantity of output
B. Do not change with any amount of production
C. Decline with rising production
D. None of these
|
Test Questions