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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
Which one is comparatively the most important factor ?
Question # 2
When average cost is minimum, marginal cost is - - - - - - - - average cost
Question # 3
Fixed costs are those costs of production which
Question # 4
Which one is immobile factor ?
Question # 5
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is
Question # 6
Rent of the building, interest of the capital and salaries of the permanent staff etc are called
Question # 7
Which is not included in variable cost
Question # 8
When production of a firm increases then total variable costs
Question # 9
Which one of the following represents fixed cost
Question # 10
Which factor combines other three factors ?
Question # 11
In the short period, fixed cost curve has the tendency
Question # 12
When a firm's average total cost is equal to price, then it is called as
Question # 13
To increase profit a firm minimises
Question # 14
The costs which a firm bear only in case of producing commodities
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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M Muhammad Hammad Shekhani 30 - Jun - 2021 02 Min 53 Sec 14/15 -
S Subtain Ahmed Raza 21 - Jul - 2023 02 Min 57 Sec 14/15 -
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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 | The demand curve for monopolist is also called |
A. Total revenue
B. Average revenue
C. Marginal revenue
D. Zero revenue
|
| 2 | The costs which the firm has to bear in every condition in the short period, are called |
A. Total costs
B. Fixed costs
C. Variable costs
D. Marginal costs
|
| 3 | Under monopoly average revenue curve remains the marginal revenue curve |
A. Below
B. Above
C. Parallel
D. None of these
|
| 4 | To increase profit a firm minimises |
A. revenues
B. costs
C. demand
D. supply
|
| 5 | The factor of production which is result of human struggle. |
A. Land
B. Labour
C. Capital
D. Organization
|
| 6 | Rent of the building, interest of the capital and salaries of the permanent staff etc are called |
A. Fixed costs
B. Variable
C. Marginal cost
D. Average cost
|
| 7 | 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
|
| 8 | Which factor is helpful for earning more income ? |
A. Land
B. Labour
C. Capital
D. Organization
|
| 9 | 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
|
| 10 | When average cost falls marginal cost is ---------------- average cost |
A. More than
B. Less than
C. Equal to
D. A and C
|
Test Questions
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