More Classes
5th Class
6th Class
7th Class
8th Class
9th Class
10th Class
11th Class
12th Class
NAT I
NAT II
CSS
IQ
General Knowledge
MDCAT
ECAT
GAT General
GAT Subject
Other Links
Go to Home
Online Tests
Principles of Economics Icom Part 1 English Medium Chapter 8 Online Test MCQs With Answers
Question # 1
According to which economist, it is difficult to find marginal product of a factor of production
Choose an answer
Marshall and pigou
Adam Smith and Malthus
Keynes
Taussing and Davenport
Previous
Skip
Next
Question # 2
At least one factor is fixed in:
Choose an answer
Market period
Long period
Short period
All of three
Previous
Skip
Next
Question # 3
Firm's cost depends upon:
Choose an answer
Revenue
Supply
Price
Output
Previous
Skip
Next
Question # 4
TC = TFC +:
Choose an answer
MC
AR
TVC
TAC
Previous
Skip
Next
Question # 5
The rate change in total cost is:
Choose an answer
TR
MC
MR
TC
Previous
Skip
Next
Question # 6
According to which economist, some factors are indivisble
Choose an answer
Adam Smith
Marshall
Davenport
Hobson
Previous
Skip
Next
Question # 7
Under monopoly the slopes of AR and MR are:
Choose an answer
Zero
Positive
Negative
None of three
Previous
Skip
Next
Question # 8
With the increase of output, which cost of production increases:
Choose an answer
VC
AC
FC
MC
Previous
Skip
Next
Question # 9
Long run average cost curve is:
Choose an answer
Planning curve
Envelope curve
Flatter curve
All of three
Previous
Skip
Next
Question # 10
Next best alternative use of resources is known as:
Choose an answer
Implicit cost
Explicit cost
Opportunity cost
Sunk cost
Previous
Skip
Next
Question # 11
AR curve is also called:
Choose an answer
Supply curve
Demand curve
Utility curve
Cost curve
Previous
Skip
Next
Question # 12
Marginal revenue product curve is called
Choose an answer
Demand curve of firm
Supply curve of firm
Demand curve of industry
Supply curve of industry
Previous
Skip
Next
Question # 13
All factors of production are variable in the:
Choose an answer
Market period
Long period
Short period
All of these
Previous
Skip
Next
Question # 14
When Ac is rising:
Choose an answer
AC = MC
MC > AC
MC < AC
Both (b) and (c)
Previous
Skip
Next
Question # 15
Under perfect competition:
Choose an answer
AR > MR
AR < MR
AR = MR
All of three
Previous
Skip
Next
Back