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.

First Year Principles of Economics Chapter 6 Online MCQ Test for 1st Year Principles of Economics Chapter 6 (Firm's Costs of Production and Revenues)

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
ic

First Year Principles of Economics Chapter 6 Online MCQ Test for 1st Year Principles of Economics Chapter 6 (Firm's Costs of Production and Revenues)

Sr. # Questions Answers Choice
1 The kind of market, in which a single firm produces a single commodity which has no close substitute
  • A. Monopoly
  • B. Duopoly
  • C. Oligopoly
  • D. Perfect competition
2 When average cost increases, marginal cost is - - - - - - average cost
  • A. Less than
  • B. More than
  • C. Equal to
  • D. None of three
3 What is the reward of Organization ?
  • A. Rent
  • B. Wage
  • C. Interest
  • D. Profit
4 Which curve represents demand curve also
  • A. Marginal revenue
  • B. Average revenue
  • C. Total revenue
  • D. Marginal cost
5 Demand curve of a monopolist has the shape
  • A. Falls from left to right
  • B. Rises from left to right
  • C. Remains below MR curve
  • D. Remains parallel to ox-axis
6 The factor of production which is result of human struggle.
  • A. Land
  • B. Labour
  • C. Capital
  • D. Organization
7 When average cost is minimum, marginal cost is - - - - - - - - average cost
  • A. Less than
  • B. More than
  • C. Equal to
  • D. None of three
8 All the factors production can be hired except.
  • 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 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

Share your comments questions here
Sort By:
X

Sign in

to continue to ilmkidunya.com

inquiry-image

Free Admission Advice

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

X

Sign in

to continue to ilmkidunya.com

X

Sign in

to continue to ilmkidunya.com

X

Forgot Password

to continue to ilmkidunya.com

X

Register Type

Please Provide following information to Register

  • Student
  • Tutor
  • Consultant
  • Employer