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	How many kinds of costs are in the short period	Two Three Four Five
2	When production of a firm increases then total variable costs	Decrease Increase Remain constant Do not change
3	Average revenue is equal to	Price Total revenue Marginal revenue Average cost
4	Additional amount of money which a firm gets by selling an additional unit of output is called	Average revenue Marginal revenue Total revenue Revenue
5	Dividing total revenue by the sold units of output, is attained	Average revenue Marginal revenue Total revenue Average cost
6	The amount of money which a firm gets by selling a particular quantity of output, is called	Average revenue Marginal revenue Total revenue Fixed cost
7	In the short period, fixed cost curve has the tendency	Parallel to ox-axis Parallel to oy-axis Positive Negative
8	Rent of the building, interest of the capital and salaries of the permanent staff etc are called	Fixed costs Variable Marginal cost Average cost
9	Price of raw material, wages of temporary labourers, transport costs etc,are called	Fixed costs Variable costs Marginal cost Total cost
10	Under monopoly average revenue curve remains ______ the marginal revenue curve	Below Above Parallel to None of three
11	Nature of inter-relationship of average revenue and marginal revenue under perfect competition is	Average revenue remains more than marginal revenue Average revenue remains less than marginal revenue Marginal revenue remains less than average revenue Average revenue remains equal to marginal revenue
12	When average cost curve is rising, then marginal cost curve	Remains below it Remains above it Remains parallel to it Is vertical
13	When average cost curve id falling, then marginal cost curve	Remains below it Remains above it Remains parallel to it Is vertical
14	The shape of average cost curve in the short period is	Vertical Horizontal Positively sloping Like English alphabet U
15	The additional cost which a firm has to bear in order to produce additional unit of output, are called	Average cost Marginal cost Fixed costs Variable costs

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