| 1 |
Next best alternative use of resources is known as: |
- A. Implicit cost
- B. Explicit cost
- C. Opportunity cost
- D. Sunk cost
|
| 2 |
According to which economist, some factors are indivisble |
- A. Adam Smith
- B. Marshall
- C. Davenport
- D. Hobson
|
| 3 |
AR curve is also called: |
- A. Supply curve
- B. Demand curve
- C. Utility curve
- D. Cost curve
|
| 4 |
All factors of production are variable in the: |
- A. Market period
- B. Long period
- C. Short period
- D. All of these
|
| 5 |
TC = TFC +: |
- A. MC
- B. AR
- C. TVC
- D. TAC
|
| 6 |
According to which economist, it is difficult to find marginal product of a factor of production |
- A. Marshall and pigou
- B. Adam Smith and Malthus
- C. Keynes
- D. Taussing and Davenport
|
| 7 |
MPP stand is |
- A. Marginal price product
- B. Marginal Physical Product
- C. Marginal Physical Price
- D. Marginal Perfect Price
|
| 8 |
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
|
| 9 |
Long run average cost curve is: |
- A. Planning curve
- B. Envelope curve
- C. Flatter curve
- D. All of three
|
| 10 |
At least one factor is fixed in: |
- A. Market period
- B. Long period
- C. Short period
- D. All of three
|
