Question # 1

Wages of temporary labourers are:

Choose an answer

Fixed cost

Marginal cost

Total cost

Variable cost

According to which theory every factor of production gets the reward of its services equal to its marginal product

Choose an answer

Demand and supply theory

Liquidity preference theory

Marginal productivity theory

Uncertainty theory

Marginal revenue product is the amount of money attained by selling

Choose an answer

Average product

Marginal product

Total product

None of these

In short average cost curve is:

Choose an answer

Saucer shaped

Negative slope

U shaped

Flatter

Under perfect competition:

Choose an answer

AR > MR

AR < MR

AR = MR

All of three

Marginal productivity theory was presented by

Choose an answer

Adam Smith and Malthus

Marshall and J.B Clark

Robbins and Keyness

Pigou and Cannon

The rate change in total cost is:

Choose an answer

TR

MC

MR

TC

Amount of money attained by selling marginal product is called

Choose an answer

Average revenue product

Marginal revenue product

Total revenue product

None of three

With the increase of output, which cost of production increases:

Choose an answer

VC

AC

FC

MC

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

When AC is falling then:

Choose an answer

MC = AC

AVC = MC

MC > AC

MC < AC

According to which economist, some factors are indivisble

Choose an answer

Adam Smith

Marshall

Davenport

Hobson

Fixed cost consists of:

Choose an answer

Rent

Salaries

Interest

All of them

Production of the last unit of a factor of production is called

Choose an answer

Total product

Average product

Marginal product

Positive product

Demand for factors of production is

Choose an answer

Direct

Derived

Positive

Negative

More Classes

Other Links

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

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer

Choose an answer