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Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 6 Online Test MCQs With Answers
Question # 1
Under perfect competition average revenue is always - - - marginal revenue
Choose an answer
Equal to
Less than
More than
None of three
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Question # 2
When average cost increases, marginal cost is - - - - - - average cost
Choose an answer
Less than
More than
Equal to
None of three
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Question # 3
Which is not included in variable cost
Choose an answer
price of raw material
Advertisement expenditures
rent of builiding
wages of labour
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Question # 4
Dividing total fixed costs by the units of output, is attained
Choose an answer
Average fixed cost
Average variable cost
Average cost
Marginal cost
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Question # 5
Which one is immobile factor ?
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Land
Labour
Capital
Organization
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Question # 6
Which on factor is the basic factor ?
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Land
Labour
Capital
Organization
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Question # 7
Price of raw material, wages of temporary labourers, transport costs etc,are called
Choose an answer
Fixed costs
Variable costs
Marginal cost
Total cost
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Question # 8
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
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Question # 9
The additional cost which a firm has to bear in order to produce additional unit of output, are called
Choose an answer
Average cost
Marginal cost
Fixed costs
Variable costs
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Question # 10
Wages of temporary labourers are
Choose an answer
Fixed cost
Marginal cost
Total cost
Variable cost
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Question # 11
Which one is comparatively the most important factor ?
Choose an answer
Land
Labour
Capital
Organization
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Question # 12
The demand curve for monopolist is also called
Choose an answer
Total revenue
Average revenue
Marginal revenue
Zero revenue
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Question # 13
Reward of capital is called
Choose an answer
Rent
Wage
Interest
Profit
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Question # 14
The costs which a firm bear only in case of producing commodities
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Fixed costs
Variable costs
Total costs
Average fixed cost
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Question # 15
Which one factor is free gift of nature ?
Choose an answer
Land
Labour
Capital
Organization
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Question # 16
When total revenue is maximum, marginal revenue is
Choose an answer
More
Less
Constant
Zero
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Question # 17
Short run cost curves are generally
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flatter
u shaped
saucer shaped
oval
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Question # 18
Marginal cost curve cuts average cost curve when average cost is
Choose an answer
Maximum
Minimum
Increasing
Decreasing
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Question # 19
Dividing total variable costs by the units of output, is attained
Choose an answer
Average fixed cost
Average variable cost
Average cost
Marginal cost
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Question # 20
One of the following is not land:
Choose an answer
White house
Sub continents
Power house
Both (a) and (b)
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