Question # 1

Total expenditures which a firm bear to produce a particular quantity of output

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Fixed costs

Variable costs

Total costs

Average fixed cost

Wages of temporary labourers are

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Fixed cost

Marginal cost

Total cost

Variable cost

Dividing total variable costs by the units of output, is attained

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Average fixed cost

Average variable cost

Average cost

Marginal cost

Under monopoly average revenue curve remains ______ the marginal revenue curve

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Below

Above

Parallel to

None of three

The demand curve for monopolist is also called

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Total revenue

Average revenue

Marginal revenue

Zero revenue

One of the following is considered as capital:

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Land

Labour

Raw material

Both (a) and (b)

Which on factor is the basic factor ?

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Land

Labour

Capital

Organization

Average revenue is equal to

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Price

Total revenue

Marginal revenue

Average cost

When total revenue is maximum, marginal revenue is

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More

Less

Constant

Zero

Short run cost curves are generally

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flatter

u shaped

saucer shaped

oval

Which curve represents demand curve also

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Marginal revenue

Average revenue

Total revenue

Marginal cost

Average cost curve is in short run

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Negative sloped

U-shaped

L-shaped

Positive sloped

Slope of average revenue and marginal revenue cures under monopoly is

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positive

negative

zero

none of three

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

Rent of the building, interest of the capital and salaries of the permanent staff etc are called

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Fixed costs

Variable

Marginal cost

Average cost

Price of raw material, wages of temporary labourers, transport costs etc,are called

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Fixed costs

Variable costs

Marginal cost

Total cost

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

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