| 1 |
In the short period, fixed cost curve has the tendency |
- A. Parallel to ox-axis
- B. Parallel to oy-axis
- C. Positive
- D. Negative
|
| 2 |
When average cost increases, marginal cost is - - - - - - average cost |
- A. Less than
- B. More than
- C. Equal to
- D. None of three
|
| 3 |
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
|
| 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 |
One of the following is not included in implicit cost |
- A. Interest of entrepreneur's own capital
- B. Rent of building
- C. Reward of entrepreneur's own labour
- D. Reward of entrepreneur's own land
|
| 6 |
The slope of MR curve in monopoly is |
- A. Vertical
- B. Increasing
- C. Horizontal
- D. Negative
|
| 7 |
Under perfect competition average revenue is always - - - marginal revenue |
- A. Equal to
- B. Less than
- C. More than
- D. None of three
|
| 8 |
Under monopoly average revenue curve remains ______ the marginal revenue curve |
- A. Below
- B. Above
- C. Parallel to
- D. None of three
|
| 9 |
Which one of the following represents fixed cost |
- A. Price of raw material
- B. Wages
- C. Capital goods
- D. Wages of permanent labour
|
| 10 |
The shape of average cost curve in the short period is |
- A. Vertical
- B. Horizontal
- C. Positively sloping
- D. Like English alphabet U
|
