11th class Principles of Economics chapter 6 online mcq test with answers for I.Com part 1 Principles of Economics chapter 6(Firm's Costs of Production and Revenues)

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

Sr. #	Questions	Answers Choice
1	Marginal cost curve cuts average cost curve when average cost is	Maximum Minimum Increasing Decreasing
2	When average cost falls marginal cost is ---------------- average cost	More than Less than Equal to A and C
3	Wages of temporary labourers are	Fixed cost Marginal cost Total cost Variable cost
4	The demand curve for monopolist is also called	Total revenue Average revenue Marginal revenue Zero revenue
5	Which one of the following represents fixed cost	Price of raw material Wages Capital goods Wages of permanent labour
6	When total revenue is maximum, marginal revenue is	More Less Constant Zero
7	Which curve represents demand curve also	Marginal revenue Average revenue Total revenue Marginal cost
8	In perfect competition the average revenue curve is	Vertical Horizontal Rising Declining
9	Fixed costs are those costs of production which	Rise with quantity of output Do not change with any amount of production Decline with rising production None of these
10	Under monopoly average revenue curve remains the marginal revenue curve	Below Above Parallel None of these
11	To increase profit a firm minimises	revenues costs demand supply
12	Short run cost curves are generally	flatter u shaped saucer shaped oval
13	Which is not included in variable cost	price of raw material Advertisement expenditures rent of builiding wages of labour
14	When a firm's average total cost is equal to price, then it is called as	Normal profit Abnormal profit Normal loss Abnormal loss
15	Which is the Demand Curve of a frim	Average Revenue Curve Marginal Revenue Curve Total Revenue Curve Average cost curve

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