| 1 |
If a firm does not produce anything then its variable cost is: |
- A. Minimum
- B. Negative
- C. Maximum
- D. Zero
|
| 2 |
Marginal revenue product curve is called |
- A. Demand curve of the firm
- B. Supply curve of the firm
- C. Demand curve of the industry
- D. Supply curve of industry
|
| 3 |
In short average cost curve is: |
- A. Saucer shaped
- B. Negative slope
- C. U shaped
- D. Flatter
|
| 4 |
Under monopoly the slopes of AR and MR are: |
- A. Zero
- B. Positive
- C. Negative
- D. None of three
|
| 5 |
Wages of permanent labourers are: |
- A. Fixed cost
- B. Marginal cost
- C. Total cost
- D. Variable cost
|
| 6 |
Marginal revenue product curve is called |
- A. Demand curve of firm
- B. Supply curve of firm
- C. Demand curve of industry
- D. Supply curve of industry
|
| 7 |
Fixed cost consists of: |
- A. Rent
- B. Salaries
- C. Interest
- D. All of them
|
| 8 |
MPP stand is |
- A. Marginal price product
- B. Marginal Physical Product
- C. Marginal Physical Price
- D. Marginal Perfect Price
|
| 9 |
Firm's cost depends upon: |
- A. Revenue
- B. Supply
- C. Price
- D. Output
|
| 10 |
AR curve is also called: |
- A. Supply curve
- B. Demand curve
- C. Utility curve
- D. Cost curve
|
