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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 factor is free gift of nature ?
Question # 2
One of the following is not included in explicit cost
Question # 3
Under perfect competition average revenue is always - - - marginal revenue
Question # 4
Number of firms under monopoly is
Question # 5
Price of raw material, wages of temporary labourers, transport costs etc,are called
Question # 6
Average cost curve is in short run
Question # 7
The shape of average cost curve in the short period is
Question # 8
Dividing total revenue by the sold units of output, is attained
Question # 9
The costs which the firm has to bear in every condition in the short period, are called
Question # 10
Dividing total variable costs by the units of output, is attained
Question # 11
One of the following is not land:
Question # 12
Marginal cost curve cuts average cost curve when average cost is
Question # 13
Which is the Demand Curve of a frim
Question # 14
When a firm's average total cost is equal to price, then it is called as
Question # 15
When production of a firm increases then total variable costs
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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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 costs which a firm bear only in case of producing commodities |
A. Fixed costs
B. Variable costs
C. Total costs
D. Average fixed cost
|
| 2 | Which one of the following represents fixed cost |
A. Price of raw material
B. Wages
C. Capital goods
D. Wages of permanent labour
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| 3 | Dividing total fixed costs by the units of output, is attained |
A. Average fixed cost
B. Average variable cost
C. Average cost
D. Marginal cost
|
| 4 | One of the following is a fixed capital: |
A. Raw material
B. Machinery
C. Saving certificate
D. None of these
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| 5 | 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
|
| 6 | When average cost falls, marginal cost is - - - - - - average cost |
A. Less than
B. More than
C. Equal to
D. None of three
|
| 7 | What is the reward of Labour ? |
A. Rent
B. Wage
C. Interest
D. Profit
|
| 8 | 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
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| 9 | Under monopoly average revenue curve remains ______ the marginal revenue curve |
A. Below
B. Above
C. Parallel to
D. None of three
|
| 10 | Reward of Land is called. |
A. Rent
B. Wage
C. Interest
D. Profit
|
Test Questions
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