ICOM Part 1 Principles of Economics English Medium Chapter 8 MCQ's Test

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 8 (Resource Pricing)

ICOM Part 1 Principles of Economics English Medium Chapter 8 MCQ's Test

Start Chapter 8 Test

ICOM Part 1 Principles of Economics Chapter Wise Test (English Medium)

11th Class Principles of Economics English Medium Online MCQ Test for Chapter 8 (Resource Pricing)

Sr. # Questions Answers Choice
1 With the increase of output, which cost of production increases:
  • A. VC
  • B. AC
  • C. FC
  • D. MC
2 Amount of money attained by selling marginal product is called
  • A. Average revenue product
  • B. Marginal revenue product
  • C. Total revenue product
  • D. None of three
3 Wages of temporary labourers are:
  • A. Fixed cost
  • B. Marginal cost
  • C. Total cost
  • D. Variable cost
4 In short average cost curve is:
  • A. Saucer shaped
  • B. Negative slope
  • C. U shaped
  • D. Flatter
5 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
6 TC = TFC +:
  • A. MC
  • B. AR
  • C. TVC
  • D. TAC
7 Wages of permanent labourers are:
  • A. Fixed cost
  • B. Marginal cost
  • C. Total cost
  • D. Variable cost
8 According to which economist, some factors are indivisble
  • A. Adam Smith
  • B. Marshall
  • C. Davenport
  • D. Hobson
9 Long run average cost curve is:
  • A. Planning curve
  • B. Envelope curve
  • C. Flatter curve
  • D. All of three
10 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

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