11th class Principles of Economics chapter 8 online mcq test with answers for I.Com part 1 Principles of Economics chapter 8(Resource Pricing)

Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test

Sr. #	Questions	Answers Choice
1	Wages of permanent labourers are:	Fixed cost Marginal cost Total cost Variable cost
2	Wages of temporary labourers are:	Fixed cost Marginal cost Total cost Variable cost
3	Self owned resources are known as:	Implicit cost Explicit cost Opportunity cost Sunk cost
4	Under perfect competition:	AR > MR AR < MR AR = MR All of three
5	AR curve is also called:	Supply curve Demand curve Utility curve Cost curve
6	Under monopoly the slopes of AR and MR are:	Zero Positive Negative None of three
7	Next best alternative use of resources is known as:	Implicit cost Explicit cost Opportunity cost Sunk cost
8	Under perfect competition average revenue is equal to:	Average cost Price Marginal revenue Both b and c
9	Long run average cost curve is:	Planning curve Envelope curve Flatter curve All of three
10	In short average cost curve is:	Saucer shaped Negative slope U shaped Flatter
11	MC cuts AC at:	Maximum point Minimum point Increasing point Decreasing point
12	When Ac is rising:	AC = MC MC > AC MC < AC Both (b) and (c)
13	When AC is falling then:	MC = AC AVC = MC MC > AC MC < AC
14	The rate change in total cost is:	TR MC MR TC
15	TC = TFC +:	MC AR TVC TAC