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
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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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Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test

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Question # 1

Total expenditures which a firm bear to produce a particular quantity of output

Question # 2

In perfect competition the average revenue curve is

Question # 3

When a firm's average total cost is equal to price, then it is called as

Question # 4

Which one is immobile factor ?

Question # 5

The costs which a firm bear only in case of producing commodities

Question # 6

Average cost curve is in short run

Question # 7

Wages of temporary labourers are

Question # 8

Which on factor is the basic factor ?

Question # 9

Under perfect competition average revenue is always - - - marginal revenue

Question # 10

One of the following is considered as capital:

Question # 11

Which one of the following represents fixed cost

Question # 12

Which is the Demand Curve of a frim

Question # 13

The additional cost which a firm has to bear in order to produce additional unit of output, are called

Question # 14

Under monopoly average revenue curve remains the marginal revenue curve

Question # 15

When average cost falls, marginal cost is - - - - - - average cost

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ICom Part 1 Principles of Economics ( English Medium) Chapter 6 Important MCQ's

Sr.# Question Answer
1 The factor of production which is result of human struggle.
A. Land
B. Labour
C. Capital
D. Organization
2 Which is the Demand Curve of a frim
A. Average Revenue Curve
B. Marginal Revenue Curve
C. Total Revenue Curve
D. Average cost curve
3 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
4 The costs which increase with the increase in output and decrease with the decrease in output, are called
A. Variable costs
B. Fixed costs
C. Average costs
D. Marginal cost
5 Which one is immobile factor ?
A. Land
B. Labour
C. Capital
D. Organization
6 Average revenue is equal to
A. Price
B. Total revenue
C. Marginal revenue
D. Average cost
7 Which one is comparatively the most important factor ?
A. Land
B. Labour
C. Capital
D. Organization
8 Which factor combines other three factors ?
A. Land
B. Labour
C. Capital
D. Organization
9 Total expenditures which a firm bear to produce a particular quantity of output
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
10 When average cost falls, marginal cost is - - - - - - average cost
A. Less than
B. More than
C. Equal to
D. None of three

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