| 1 |
Average revenue is equal to |
- A. Price
- B. Total revenue
- C. Marginal revenue
- D. Average cost
|
| 2 |
One of the following is not included in explicit cost |
- A. Wages of labourers
- B. Reward of entrepreneur's personal labour
- C. Price of raw material
- D. Interest of capital
|
| 3 |
All the factors production can be hired except. |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 4 |
When average cost curve id falling, then marginal cost curve |
- A. Remains below it
- B. Remains above it
- C. Remains parallel to it
- D. Is vertical
|
| 5 |
In the short period, fixed cost curve has the tendency |
- A. Parallel to ox-axis
- B. Parallel to oy-axis
- C. Positive
- D. Negative
|
| 6 |
Nature of inter-relationship of average revenue and marginal revenue under perfect competition is |
- A. Average revenue remains more than marginal revenue
- B. Average revenue remains less than marginal revenue
- C. Marginal revenue remains less than average revenue
- D. Average revenue remains equal to marginal revenue
|
| 7 |
When production of a firm increases then total variable costs |
- A. Decrease
- B. Increase
- C. Remain constant
- D. Do not change
|
| 8 |
Which curve represents demand curve also |
- A. Marginal revenue
- B. Average revenue
- C. Total revenue
- D. Marginal cost
|
| 9 |
The shape of average cost curve in the short period is |
- A. Vertical
- B. Horizontal
- C. Positively sloping
- D. Like English alphabet U
|
| 10 |
Number of firms under monopoly is |
- A. One
- B. Two
- C. Three
- D. Four
|
