Question # 1

Which one is comparatively the most important factor ?

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Land

Labour

Capital

Organization

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

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Equal to

Less than

More than

None of three

Average cost curve is in short run

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Negative sloped

U-shaped

L-shaped

Positive sloped

Marginal cost curve cuts average cost curve when average cost is

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Maximum

Minimum

Increasing

Decreasing

Number of firms under monopoly is

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One

Two

Three

Four

Dividing total costs by the units of output is attained

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Average fixed cost

Average cost

Average variable cost

Marginal cost

Which curve represents demand curve also

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Marginal revenue

Average revenue

Total revenue

Marginal cost

Which on factor is the basic factor ?

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Land

Labour

Capital

Organization

Which one is immobile factor ?

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Land

Labour

Capital

Organization

One of the following is not included in explicit cost

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Wages of labourers

Reward of entrepreneur's personal labour

Price of raw material

Interest of capital

Demand curve of a monopolist has the shape

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Falls from left to right

Rises from left to right

Remains below MR curve

Remains parallel to ox-axis

Which one of the following represents fixed cost

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Price of raw material

Wages

Capital goods

Wages of permanent labour

Slope of average revenue and marginal revenue cures under monopoly is

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positive

negative

zero

none of three

Wages of temporary labourers are

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Fixed cost

Marginal cost

Total cost

Variable cost

The costs which the firm has to bear in every condition in the short period, are called

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Total costs

Fixed costs

Variable costs

Marginal costs

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

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