| 1 |
When production of a firm increases then total variable costs |
- A. Decrease
- B. Increase
- C. Remain constant
- D. Do not change
|
| 2 |
When average cost curve is rising, then marginal cost curve |
- A. Remains below it
- B. Remains above it
- C. Remains parallel to it
- D. Is vertical
|
| 3 |
The amount of money which a firm gets by selling a particular quantity of output, is called |
- A. Average revenue
- B. Marginal revenue
- C. Total revenue
- D. Fixed cost
|
| 4 |
The slope of MR curve in monopoly is |
- A. Vertical
- B. Increasing
- C. Horizontal
- D. Negative
|
| 5 |
Average revenue is equal to |
- A. Price
- B. Total revenue
- C. Marginal revenue
- D. Average cost
|
| 6 |
Slope of average revenue and marginal revenue cures under monopoly is |
- A. positive
- B. negative
- C. zero
- D. none of three
|
| 7 |
In perfect competition the average revenue curve is |
- A. Vertical
- B. Horizontal
- C. Rising
- D. Declining
|
| 8 |
Which factor combines other three factors ? |
- A. Land
- B. Labour
- C. Capital
- D. Organization
|
| 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 |
Wages of temporary labourers are |
- A. Fixed cost
- B. Marginal cost
- C. Total cost
- D. Variable cost
|
